JPMorgan Chase & Co. Lowers Telenor ASA (TELNY) to Neutral

Telenor ASA (OTCMKTS:TELNY) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Tuesday. They presently have a $18.44 price objective on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 1.76% from the stock’s previous close.

Separately, ValuEngine downgraded Telenor ASA from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd.

Shares of OTCMKTS:TELNY traded up $0.33 on Tuesday, reaching $18.77. The company had a trading volume of 7,231 shares, compared to its average volume of 55,166. Telenor ASA has a 52-week low of $17.86 and a 52-week high of $23.56. The company has a market capitalization of $28.18 billion, a PE ratio of 15.39 and a beta of 0.45. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.91.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Wednesday, January 30th. The utilities provider reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.10). Telenor ASA had a return on equity of 20.13% and a net margin of 13.92%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Research analysts predict that Telenor ASA will post 1.24 EPS for the current year.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. Its principal products and services include mobile communication, fixed line communication, and broadcasting services. The company's mobile communication services comprise voice, data, Internet, and content services, as well as customer equipment and messaging.

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