Telenor ASA (OTCMKTS:TELNY) Short Interest Up 79.3% in May

Telenor ASA (OTCMKTS:TELNYGet Rating) was the target of a large growth in short interest in May. As of May 15th, there was short interest totalling 25,100 shares, a growth of 79.3% from the April 30th total of 14,000 shares. Based on an average daily volume of 50,400 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Pareto Securities cut shares of Telenor ASA from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Nordea Equity Research upgraded shares of Telenor ASA from a “hold” rating to a “buy” rating in a research note on Monday, February 6th. Barclays raised Telenor ASA from an “underweight” rating to an “equal weight” rating in a report on Tuesday, April 18th. Finally, Citigroup assumed coverage on Telenor ASA in a report on Friday. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $110.00.

Telenor ASA Price Performance

Shares of OTCMKTS TELNY traded down $0.11 during midday trading on Friday, hitting $10.34. 44,176 shares of the company’s stock were exchanged, compared to its average volume of 52,728. The business’s fifty day moving average price is $11.80 and its two-hundred day moving average price is $10.77. Telenor ASA has a 12-month low of $8.55 and a 12-month high of $13.86. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 2.65 and a beta of 0.49.

Telenor ASA (OTCMKTS:TELNYGet Rating) last released its quarterly earnings results on Thursday, May 4th. The utilities provider reported ($0.04) earnings per share for the quarter. Telenor ASA had a net margin of 54.22% and a return on equity of 19.03%. The firm had revenue of $1.88 billion for the quarter. As a group, research analysts forecast that Telenor ASA will post 1.76 EPS for the current fiscal year.

Telenor ASA Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Friday, May 12th will be given a dividend of $0.3814 per share. This is an increase from Telenor ASA’s previous dividend of $0.35. The ex-dividend date is Thursday, May 11th. This represents a yield of 5.79%. Telenor ASA’s dividend payout ratio (DPR) is presently 18.23%.

About Telenor ASA

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Telenor ASA engages in the provision of telecommunications, data, and media services. Its products and services include mobile communication, fixed line communication, and broadcasting activities. It operates through the following segments: Norway, Sweden, Denmark, DNA-Finland, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, and Other Units.

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