Zacks Investment Research Downgrades Telenor ASA (TELNY) to Hold

Zacks Investment Research downgraded shares of Telenor ASA (OTCMKTS:TELNY) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Telenor ASA is a leading telecommunications company in Norway, which is among the most advanced telecommunications markets in the world. It is a provider of mobile communications services worldwide. The Company has four segments: mobile communication, fixed line communication, TV-based activities (Broadcast), and others. The Telenor Group is dynamic and flexible in its business approach, always exploring new markets and new technologies to make long-term investments. This is part of the reason why Telenor has grown from a national telephone service company in Norway to one of the world’s largest mobile provider. The Telenor Group is now a driving force in the industry, engaging in pioneering research and technology development and other areas that are important to develop the core business of Telenor further. “

Separately, ValuEngine upgraded Telenor ASA from a hold rating to a buy rating in a research report on Thursday, October 26th.

Shares of Telenor ASA (OTCMKTS TELNY) opened at $22.72 on Wednesday. Telenor ASA has a 1-year low of $15.40 and a 1-year high of $24.49. The firm has a market capitalization of $33,587.62, a PE ratio of 23.18, a price-to-earnings-growth ratio of 7.27 and a beta of 0.97. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.85.

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About Telenor ASA

Telenor ASA is a telecommunication company. The Company’s segments include Norway, Sweden, Denmark, Hungary, Bulgaria, Montenegro & Serbia, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, India, Myanmar, Broadcast and Other units. The Company’s main products and services are mobile communication, fixed line communication and broadcasting activities.

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