Telenor ASA (OTCMKTS:TELNY) Sees Unusually-High Trading Volume – Here’s Why

Telenor ASA (OTCMKTS:TELNY) saw unusually-strong trading volume on Monday . 73,238 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 51,285 shares.The stock last traded at $13.93 and had previously closed at $14.09.

Analyst Ratings Changes

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

Telenor ASA Stock Down 1.0%

The stock has a fifty day simple moving average of $14.71 and a two-hundred day simple moving average of $16.39. The firm has a market cap of $19.09 billion, a PE ratio of 14.23 and a beta of 0.31. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%.The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. As a group, sell-side analysts expect that Telenor ASA will post 0.93 EPS for the current fiscal 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.