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

Shares of Tele2 (OTCMKTS:TLTZY) saw strong trading volume on Wednesday . Approximately 175,399 shares traded hands during mid-day trading, an increase of 149% from the previous session’s volume of 70,375 shares.The stock last traded at $8.2250 and had previously closed at $8.02.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TLTZY. Citigroup lowered Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Zacks Research lowered shares of Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Finally, Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Tele2 Price Performance

The company’s 50-day moving average price is $9.06 and its two-hundred day moving average price is $9.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 0.97. The company has a market capitalization of $11.16 billion, a P/E ratio of 10.44 and a beta of 0.40.

Tele2 (OTCMKTS:TLTZY) last announced its earnings results on Thursday, July 16th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $766.77 million for the quarter, compared to analyst estimates of $750.18 million. Tele2 had a return on equity of 42.92% and a net margin of 33.96%. As a group, sell-side analysts expect that Tele2 will post 0.78 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.