Telenor ASA (OTCMKTS:TELNY) Rating Lowered to Hold at Pareto Securities

Telenor ASA (OTCMKTS:TELNY) was downgraded by analysts at Pareto Securities from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Telenor ASA Stock Down 1.6%

TELNY opened at $17.68 on Friday. The firm has a 50 day moving average price of $17.76 and a 200 day moving average price of $16.04. The company has a market cap of $24.19 billion, a PE ratio of 31.57 and a beta of 0.36. Telenor ASA has a 1 year low of $13.26 and a 1 year high of $18.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71.

Telenor ASA (OTCMKTS:TELNY) last posted its earnings results on Friday, February 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.07 billion. Telenor ASA had a return on equity of 15.52% and a net margin of 10.15%. Sell-side analysts expect 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.