Telenor ASA (TELNY) Cut to “Hold” at Zacks Investment Research

Telenor ASA (OTCMKTS:TELNY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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 raised shares of Telenor ASA from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.

Telenor ASA (OTCMKTS:TELNY) traded down $0.25 during mid-day trading on Wednesday, hitting $22.15. 20,674 shares of the company traded hands, compared to its average volume of 88,327. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.71. Telenor ASA has a 52 week low of $15.40 and a 52 week high of $24.49. The company has a market cap of $32,870.00, a price-to-earnings ratio of 21.50, a P/E/G ratio of 7.16 and a beta of 1.17.

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Telenor ASA Company Profile

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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