Tele2 (OTCMKTS:TLTZY) Shares Gap Up – Here’s Why

Tele2 (OTCMKTS:TLTZY) gapped up prior to trading on Monday . The stock had previously closed at $8.67, but opened at $9.24. Tele2 shares last traded at $8.77, with a volume of 4,154 shares changing hands.

Wall Street Analyst Weigh In

TLTZY has been the subject of a number of recent research reports. Zacks Research lowered shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Tele2 in a report on Tuesday, April 21st. Finally, Citigroup lowered Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Tele2 Stock Up 0.7%

The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $9.31 and a 200-day simple moving average of $9.67. The company has a market cap of $12.10 billion, a PE ratio of 11.32 and a beta of 0.40.

Tele2 (OTCMKTS:TLTZY) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.40. Tele2 had a return on equity of 44.93% and a net margin of 34.19%.The business had revenue of $764.89 million during the quarter, compared to analysts’ expectations of $775.46 million. Equities research analysts anticipate that Tele2 will post 0.8 EPS for the current 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.