Tele2 (OTCMKTS:TLTZY) Sees Large Volume Increase – Here’s What Happened

Tele2 (OTCMKTS:TLTZY) saw unusually-strong trading volume on Monday . Approximately 131,121 shares were traded during mid-day trading, an increase of 71% from the previous session’s volume of 76,596 shares.The stock last traded at $8.4275 and had previously closed at $8.60.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TLTZY shares. Citigroup cut shares of Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Kepler Capital Markets raised shares of Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Tele2 Stock Down 1.8%

The business has a 50-day moving average price of $8.80 and a 200 day moving average price of $9.67. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $11.57 billion, a P/E ratio of 10.82 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last announced its quarterly earnings results on Thursday, July 16th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tele2 had a return on equity of 43.42% and a net margin of 33.96%.The business had revenue of $766.77 million during the quarter, compared to the consensus estimate of $750.18 million. On average, equities analysts expect that Tele2 will post 0.78 EPS for the current fiscal year.

Tele2 Company Profile

Tele2 AB is a European telecommunications company headquartered in Kista, Sweden. Since its founding in 1993, the firm has developed into a full-service provider of voice, data and multimedia solutions for both consumer and business markets. Its core offerings include mobile telephony, fixed and mobile broadband, voice over IP, digital television services and data network solutions, alongside emerging Internet of Things (IoT) and machine-to-machine connectivity products.

Tele2 operates primarily across the Nordic and Baltic regions, with key markets in Sweden, Estonia, Latvia and Lithuania.