Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Time to Sell?

Telenor ASA (OTCMKTS:TELNY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $17.89, but opened at $16.92. Telenor ASA shares last traded at $16.91, with a volume of 3,287 shares changing hands.

Analyst Upgrades and Downgrades

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 investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Telenor ASA Stock Performance

The company has a market capitalization of $23.38 billion, a PE ratio of 30.51 and a beta of 0.36. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average is $17.24 and its two-hundred day moving average is $15.98.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Friday, February 6th. The utilities provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Telenor ASA had a net margin of 10.15% and a return on equity of 15.52%. Equities research analysts predict that Telenor ASA will post 0.79 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.