Telenor ASA (TELNY) Downgraded by Zacks Investment Research

Telenor ASA (OTCMKTS:TELNY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “Telenor ASA is a leading telecommunications company in Norway, which is among the most advanced telecommunications markets in the world. It is a provider of mobile communications services worldwide. The Company has four segments: mobile communication, fixed line communication, TV-based activities (Broadcast), and others. The Telenor Group is dynamic and flexible in its business approach, always exploring new markets and new technologies to make long-term investments. This is part of the reason why Telenor has grown from a national telephone service company in Norway to one of the world’s largest mobile provider. The Telenor Group is now a driving force in the industry, engaging in pioneering research and technology development and other areas that are important to develop the core business of Telenor further. “

Separately, ValuEngine upgraded shares of Telenor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th.

Shares of Telenor ASA (OTCMKTS:TELNY) traded down $0.12 during trading on Friday, reaching $24.09. 43,992 shares of the company were exchanged, compared to its average volume of 35,608. Telenor ASA has a one year low of $15.40 and a one year high of $24.49. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $36,350.30, a P/E ratio of 24.58, a P/E/G ratio of 6.95 and a beta of 0.96.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter. Telenor ASA had a net margin of 9.72% and a return on equity of 28.08%. analysts predict that Telenor ASA will post 1.28 EPS for the current year.

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About Telenor ASA

Telenor ASA is a telecommunication company. The Company’s segments include Norway, Sweden, Denmark, Hungary, Bulgaria, Montenegro & Serbia, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, India, Myanmar, Broadcast and Other units. The Company’s main products and services are mobile communication, fixed line communication and broadcasting activities.

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