Telenor ASA (OTCMKTS:TELNY) Short Interest Up 49.5% in September

Telenor ASA (OTCMKTS:TELNY) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 14,500 shares, a growth of 49.5% from the September 15th total of 9,700 shares. Based on an average daily volume of 41,800 shares, the days-to-cover ratio is currently 0.3 days.

Telenor ASA Price Performance

Telenor ASA stock remained flat at $12.52 during midday trading on Monday. 6,300 shares of the company traded hands, compared to its average volume of 26,214. 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 stock’s 50-day simple moving average is $12.40 and its 200-day simple moving average is $11.86. The company has a market capitalization of $17.13 billion, a PE ratio of 24.55 and a beta of 0.57. Telenor ASA has a 1-year low of $10.01 and a 1-year high of $13.12.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Thursday, July 18th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter. Telenor ASA had a net margin of 11.36% and a return on equity of 13.55%. The firm had revenue of $1.86 billion for the quarter. On average, sell-side analysts predict that Telenor ASA will post 1.32 earnings per share for the current fiscal year.

Telenor ASA Cuts Dividend

The firm also recently announced 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 of this dividend is Thursday, October 17th. Telenor ASA’s payout ratio is presently 111.76%.

Wall Street Analysts Forecast Growth

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

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.