Telenor Delivers More of the Same in Second-Quarter Results; Top-Line Weakness but Solid Margins
Telenor reported another mixed quarter, with revenue declining but margins holding firm. We are maintaining our fair value estimates of NOK 164 per local share and $20 per ADR as well as our narrow moat rating. We believe the shares are fairly valued. Reported revenue fell 3% year over year on a proforma basis versus our full-year projection of a 6.4% decline. However, our full-year projection uses actual 2017 results as the base and includes operations in Central and Eastern Europe for six mont...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.