Telenor ASA (OTCMKTS:TELNY) Releases Earnings Results

Telenor ASA (OTCMKTS:TELNY) posted its quarterly earnings results on Thursday. The utilities provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.

Telenor ASA Trading Down 1.6%

TELNY stock opened at $14.95 on Thursday. Telenor ASA has a twelve month low of $13.79 and a twelve month high of $18.92. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98. The firm’s fifty day simple moving average is $15.75 and its two-hundred day simple moving average is $16.45. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 14.38 and a beta of 0.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TELNY shares. Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Barclays lowered shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Finally, Pareto Securities downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Telenor ASA Company Profile

Telenor ASA is a Norway-based multinational telecommunications company that provides a broad range of communications and digital services to consumers and businesses. Its core offerings include mobile voice and data services, fixed broadband, television distribution, and related value-added digital services. The company also provides enterprise solutions such as business connectivity, cloud and hosting services, Internet of Things (IoT) connectivity, and wholesale telecommunications services.

In its consumer-facing business, Telenor operates mobile networks, broadband access and content services, and increasingly bundles digital and financial services to enhance customer engagement.