Tele2 (OTCMKTS:TLTZY) Shares Gap Up After Analyst Upgrade

Shares of Tele2 (OTCMKTS:TLTZY) gapped up before the market opened on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $9.55, but opened at $10.09. Tele2 shares last traded at $9.98, with a volume of 3,231 shares.

Several other brokerages also recently issued reports on TLTZY. Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Tele2 Stock Down 1.4%

The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $13.65 billion, a P/E ratio of 12.77 and a beta of 0.42. The firm’s 50 day moving average price is $10.31 and its two-hundred day moving average price is $9.31.

Tele2 (OTCMKTS:TLTZY) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.40. Tele2 had a net margin of 34.19% and a return on equity of 49.95%. The business had revenue of $764.89 million for the quarter, compared to analyst estimates of $775.46 million. Equities research analysts forecast that Tele2 will post 0.44 EPS for the current year.

About Tele2

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.