Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – Should You Buy?

Telenor ASA (OTCMKTS:TELNY) shares saw strong trading volume on Monday . 83,691 shares changed hands during trading, an increase of 103% from the previous session’s volume of 41,243 shares.The stock last traded at $14.49 and had previously closed at $14.41.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Pareto Securities lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Barclays cut shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Finally, Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Telenor ASA Stock Up 0.6%

The company has a market capitalization of $20.21 billion, a PE ratio of 14.20 and a beta of 0.31. The firm’s 50-day simple moving average is $15.94 and its 200 day simple moving average is $16.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71.

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