Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Time to Sell?

Telenor ASA (OTCMKTS:TELNY) gapped down prior to trading on Thursday . The stock had previously closed at $15.74, but opened at $14.9410. Telenor ASA shares last traded at $14.95, with a volume of 2,838 shares.

Wall Street Analyst Weigh In

TELNY has been the subject of a number of recent analyst reports. Citigroup cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Pareto Securities lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Zacks Research upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Telenor ASA presently has a consensus rating of “Hold”.

Telenor ASA Stock Performance

The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The stock has a market cap of $20.44 billion, a PE ratio of 14.37 and a beta of 0.28. The business’s 50-day moving average price is $16.63 and its 200-day moving average price is $16.39.

Telenor ASA (OTCMKTS:TELNY) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations 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 research analysts expect that Telenor ASA will post 2.09 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.