Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Time to Sell?

Telenor ASA (OTCMKTS:TELNY)’s share price gapped down before the market opened on Tuesday. The stock had previously closed at $13.56, but opened at $13.12. Telenor ASA shares last traded at $13.1720, with a volume of 35,033 shares trading hands.

Wall Street Analysts Forecast Growth

TELNY has been the topic of several recent research reports. Zacks Research upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. The Goldman Sachs Group cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, September 4th. Kepler Capital Markets upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 24th. Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Barclays downgraded shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Telenor ASA currently has an average rating of “Moderate Buy”.

Telenor ASA Price Performance

The company’s 50-day moving average price is $14.11 and its 200-day moving average price is $15.36. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.32 and a quick ratio of 1.30. The company has a market cap of $18.20 billion, a P/E ratio of 13.57 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%. As a group, sell-side analysts predict that Telenor ASA will post 0.93 earnings per share for the current fiscal year.

About Telenor ASA

Telenor ASA is a Norwegian telecommunications company that provides mobile and fixed-line communications services, broadband, television, and related digital services. Its offerings serve consumer and business customers and include mobile voice and data, fiber and wireless broadband, connectivity, Internet of Things solutions, and other communications services.

Headquartered in Fornebu, Norway, Telenor operates primarily in the Nordic region and has established partnerships and investments in telecommunications businesses in parts of Asia.