Telenor ASA (OTCMKTS:TELNY) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Telenor ASA (OTCMKTS:TELNY) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $12.48 and traded as low as $11.78. Telenor ASA shares last traded at $11.90, with a volume of 15,142 shares traded.

Wall Street Analysts Forecast Growth

Separately, New Street Research raised Telenor ASA to a “strong-buy” rating in a research report on Monday, July 8th.

Telenor ASA Trading Down 0.6 %

The business has a 50-day simple moving average of $12.48 and a two-hundred day simple moving average of $11.91. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 23.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.58 and a quick ratio of 0.56.

Telenor ASA Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.4252 per share. The ex-dividend date is Thursday, October 17th. Telenor ASA’s dividend payout ratio is presently 111.76%.

About Telenor ASA

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.