Telenor ASA (OTCMKTS:TELNY) Upgraded to Strong-Buy at Pareto Securities

Pareto Securities upgraded shares of Telenor ASA (OTCMKTS:TELNY) from a hold rating to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.

TELNY has been the topic of a number of other reports. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Barclays downgraded shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Finally, Zacks Research downgraded Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Telenor ASA Price Performance

Shares of TELNY stock opened at $13.75 on Friday. The company has a market capitalization of $18.81 billion, a PE ratio of 14.03 and a beta of 0.31. The firm has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $16.43. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. Telenor ASA has a twelve month low of $12.97 and a twelve month high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last announced 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). Telenor ASA had a net margin of 17.19% and a return on equity of 15.75%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. Equities research analysts anticipate that Telenor ASA will post 0.93 earnings per share for the current fiscal 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.