Tele2 (OTCMKTS:TLTZY) Shares Gap Down – Here’s What Happened

Tele2 (OTCMKTS:TLTZY) gapped down prior to trading on Friday . The stock had previously closed at $9.53, but opened at $8.89. Tele2 shares last traded at $9.22, with a volume of 1,955 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Citigroup cut Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Zacks Research upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Tele2 Trading Down 0.9%

The stock has a market cap of $12.54 billion, a PE ratio of 11.73 and a beta of 0.39. The business has a 50-day moving average of $10.09 and a 200 day moving average of $9.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.03.

Tele2 (OTCMKTS:TLTZY) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $764.89 million for the quarter, compared to analyst estimates of $775.46 million. Equities research analysts predict that Tele2 will post 0.83 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.