Telenor ASA (OTCMKTS:TELNY) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Telenor ASA (OTCMKTS:TELNY) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $16.42 and traded as high as $17.86. Telenor ASA shares last traded at $17.6420, with a volume of 23,963 shares.

Wall Street Analysts Forecast Growth

Separately, Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Telenor ASA has a consensus rating of “Hold”.

Telenor ASA Price Performance

The company has a 50 day moving average of $16.42 and a 200 day moving average of $15.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The stock has a market capitalization of $24.14 billion, a price-to-earnings ratio of 31.50 and a beta of 0.36.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings data on Friday, February 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Telenor ASA had a net margin of 10.15% and a return on equity of 15.52%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, equities research analysts anticipate that Telenor ASA will post 0.79 EPS for the current 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.