Telenor ASA (OTCMKTS:TELNY) Issues Earnings Results

Telenor ASA (OTCMKTS:TELNY) released its quarterly earnings results on Wednesday. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, reports. 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.

Telenor ASA Price Performance

Telenor ASA stock opened at $12.14 on Friday. The company’s fifty day moving average price is $12.48 and its 200 day moving average price is $11.94. Telenor ASA has a 1 year low of $10.15 and a 1 year high of $13.12. The stock has a market capitalization of $16.61 billion, a P/E ratio of 16.73 and a beta of 0.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.56 and a current ratio of 0.58.

Telenor ASA Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, November 6th. Investors of record on Friday, October 18th will be paid a $0.4252 dividend. The ex-dividend date is Thursday, October 17th. Telenor ASA’s dividend payout ratio is currently 82.09%.

Wall Street Analysts Forecast Growth

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

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.