Telenor ASA (OTCMKTS:TELNY) Cut to Hold at Barclays

Barclays downgraded shares of Telenor ASA (OTCMKTS:TELNY) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Telenor ASA Trading Down 0.9 %

OTCMKTS TELNY traded down $0.11 during trading hours on Wednesday, reaching $11.90. The company had a trading volume of 14,584 shares, compared to its average volume of 27,591. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $16.28 billion, a P/E ratio of 17.76 and a beta of 0.58. The stock has a 50-day moving average of $12.46 and a 200 day moving average of $11.98. Telenor ASA has a 1-year low of $10.22 and a 1-year high of $13.12.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.21 EPS for the quarter. Telenor ASA had a net margin of 12.38% and a return on equity of 14.50%. The firm had revenue of $1.87 billion for the quarter. As a group, research analysts anticipate that Telenor ASA will post 1.32 earnings per share for the current fiscal year.

Telenor ASA Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, October 18th were issued a dividend of $0.4252 per share. The ex-dividend date of this dividend was Thursday, October 17th. Telenor ASA’s dividend payout ratio (DPR) is 82.09%.

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.