Short Interest in Telenor ASA (OTCMKTS:TELNY) Drops By 95.9%

Telenor ASA (OTCMKTS:TELNY) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,100 shares, a decline of 95.9% from the October 15th total of 51,600 shares. Based on an average daily trading volume, of 102,700 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Barclays lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Telenor ASA Stock Down 0.5 %

Shares of OTCMKTS:TELNY traded down $0.06 during midday trading on Tuesday, hitting $11.84. 20,909 shares of the company’s stock traded hands, compared to its average volume of 27,567. The firm’s fifty day moving average price is $12.45 and its two-hundred day moving average price is $11.98. The company has a market cap of $16.20 billion, a PE ratio of 17.67 and a beta of 0.58. Telenor ASA has a twelve month low of $10.22 and a twelve month high of $13.12. 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 (OTCMKTS:TELNY) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.21 earnings per share for the quarter. Telenor ASA had a return on equity of 14.50% and a net margin of 12.38%. The company had revenue of $1.87 billion for the quarter. On average, equities research analysts anticipate that Telenor ASA will post 1.32 EPS for the current fiscal year.

Telenor ASA Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, October 18th were given a $0.4252 dividend. The ex-dividend date was Thursday, October 17th. Telenor ASA’s payout ratio 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.