Telenor ASA (OTCMKTS:TELNY) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Shares of Telenor ASA (OTCMKTS:TELNY) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.48 and traded as low as $11.78. Telenor ASA shares last traded at $11.90, with a volume of 15,142 shares changing hands.

Analysts Set New Price Targets

Separately, New Street Research upgraded Telenor ASA to a “strong-buy” rating in a research report on Monday, July 8th.

Telenor ASA Stock Performance

The firm has a 50-day moving average of $12.48 and a two-hundred day moving average of $11.91. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $16.28 billion, a PE ratio of 23.33 and a beta of 0.57.

Telenor ASA Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Friday, October 18th will be given a $0.4252 dividend. The ex-dividend date of this dividend is Thursday, October 17th. Telenor ASA’s dividend payout ratio (DPR) is presently 111.76%.

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.