Telenor ASA (OTCMKTS:TELNY) Sets New 52-Week High – Here’s Why

Telenor ASA (OTCMKTS:TELNY)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.34 and last traded at $14.34, with a volume of 10575 shares traded. The stock had previously closed at $14.22.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, January 23rd.

Telenor ASA Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 0.60 and a quick ratio of 0.58. The company’s 50-day moving average price is $13.00 and its 200-day moving average price is $12.29. The company has a market cap of $19.81 billion, a P/E ratio of 11.13 and a beta of 0.54.

Telenor ASA (OTCMKTS:TELNY) last released its earnings results on Thursday, February 6th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Telenor ASA had a return on equity of 16.15% and a net margin of 24.17%. As a group, sell-side analysts predict that Telenor ASA will post 0.79 earnings per share for the current fiscal year.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to residential and business customers, as well as wholesale services.