Telenor ASA (OTCMKTS:TELNY) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Telenor ASA (OTCMKTS:TELNY) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.47 and traded as low as $14.1250. Telenor ASA shares last traded at $14.14, with a volume of 94,951 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Barclays lowered shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Finally, Pareto Securities raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Telenor ASA currently has a consensus rating of “Hold”.

Telenor ASA Trading Up 1.0%

The company has a 50 day moving average of $14.44 and a 200-day moving average of $16.31. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 14.74 and a beta of 0.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.32.

Telenor ASA (OTCMKTS:TELNY) last released its earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 net margin of 17.19% and a return on equity of 15.27%. On average, research analysts anticipate that Telenor ASA will post 0.93 earnings per share for the current year.

About Telenor ASA

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.