Telenor ASA (OTCMKTS:TELNY) Reaches New 1-Year High – What’s Next?

Telenor ASA (OTCMKTS:TELNY)’s share price hit a new 52-week high on Friday . The stock traded as high as $17.96 and last traded at $17.96, with a volume of 3668 shares changing hands. The stock had previously closed at $16.67.

Analysts Set New Price Targets

Separately, Pareto Securities upgraded 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Telenor ASA Trading Up 7.5%

The firm’s 50-day simple moving average is $14.88 and its 200 day simple moving average is $15.55. The stock has a market cap of $24.51 billion, a P/E ratio of 31.99 and a beta of 0.38. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 0.98.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings results on Friday, February 6th. The utilities provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Telenor ASA had a net margin of 13.34% and a return on equity of 14.17%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, equities research analysts anticipate that Telenor ASA will post 0.79 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.