Telenor ASA (OTCMKTS:TELNY) Short Interest Up 49.5% in September

Telenor ASA (OTCMKTS:TELNY) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 14,500 shares, an increase of 49.5% from the September 15th total of 9,700 shares. Based on an average daily volume of 41,800 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, New Street Research raised shares of Telenor ASA to a “strong-buy” rating in a research report on Monday, July 8th.

Telenor ASA Price Performance

Telenor ASA stock remained flat at $12.52 during mid-day trading on Friday. 6,357 shares of the company were exchanged, compared to its average volume of 20,179. The firm has a market cap of $17.13 billion, a P/E ratio of 20.19 and a beta of 0.57. The company’s 50 day moving average price is $12.40 and its 200-day moving average price is $11.86. Telenor ASA has a 52 week low of $10.01 and a 52 week high of $13.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.58 and a quick ratio of 0.56.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings results on Thursday, July 18th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $1.86 billion for the quarter. Telenor ASA had a net margin of 11.36% and a return on equity of 13.55%. On average, equities research analysts anticipate that Telenor ASA will post 1.32 earnings per share for the current fiscal year.

Telenor ASA Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.4252 per share. The ex-dividend date of this dividend is Thursday, October 17th. Telenor ASA’s dividend payout ratio is currently 103.23%.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to residential and business customers, as well as wholesale services.