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

Telenor ASA (OTCMKTS:TELNY)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 trading hands.

Analyst Ratings Changes

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

Telenor ASA Stock Performance

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

Telenor ASA Cuts Dividend

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