Telenor ASA (OTCMKTS:TELNY) Shares Cross Below 50 Day Moving Average – Should You Sell?

Telenor ASA (OTCMKTS:TELNY)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.93 and traded as low as $15.60. Telenor ASA shares last traded at $15.68, with a volume of 24,385 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TELNY shares. Pareto Securities lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, Telenor ASA has a consensus rating of “Hold”.

Telenor ASA Price Performance

The stock’s 50-day moving average is $16.93 and its 200-day moving average is $16.35. The firm has a market cap of $21.46 billion, a P/E ratio of 15.08 and a beta of 0.28. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. As a group, equities analysts anticipate that Telenor ASA will post 2.09 EPS 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.