Telenor ASA (OTCMKTS:TELNY) Reaches New 1-Year Low Following Weak Earnings

Telenor ASA (OTCMKTS:TELNY)’s stock price hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $12.97 and last traded at $12.97, with a volume of 2281 shares. The stock had previously closed at $14.96.

The utilities provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Telenor ASA had a return on equity of 15.75% and a net margin of 17.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TELNY. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Pareto Securities downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Barclays downgraded shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Telenor ASA Stock Performance

The company has a market cap of $18.81 billion, a price-to-earnings ratio of 14.03 and a beta of 0.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. The firm has a fifty day simple moving average of $15.63 and a 200 day simple moving average of $16.43.

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.