Telenor ASA (OTCMKTS:TELNY) Sees Strong Trading Volume – Should You Buy?

Shares of Telenor ASA (OTCMKTS:TELNY) saw unusually-strong trading volume on Friday . 96,768 shares traded hands during trading, an increase of 100% from the previous session’s volume of 48,343 shares.The stock last traded at $13.74 and had previously closed at $13.70.

Wall Street Analysts Forecast Growth

TELNY has been the topic of several research analyst reports. Pareto Securities raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Zacks Research downgraded Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Telenor ASA presently has a consensus rating of “Hold”.

Telenor ASA Stock Down 0.1%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The stock has a market cap of $18.73 billion, a P/E ratio of 13.96 and a beta of 0.31. The stock’s fifty day simple moving average is $15.36 and its 200-day simple moving average is $16.42.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.75% and a net margin of 17.19%.The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts forecast that Telenor ASA will post 0.93 earnings per share for the current fiscal year.

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.