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

Shares of Tele2 (OTCMKTS:TLTZY) gapped up prior to trading on Friday . The stock had previously closed at $8.94, but opened at $9.39. Tele2 shares last traded at $8.91, with a volume of 7,214 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. Zacks Research cut Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Finally, Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Tele2 presently has a consensus rating of “Moderate Buy”.

Tele2 Stock Up 0.2%

The company has a debt-to-equity ratio of 0.94, a current ratio of 0.70 and a quick ratio of 0.64. The business has a 50 day moving average price of $8.61 and a 200 day moving average price of $9.63. The firm has a market capitalization of $12.26 billion, a P/E ratio of 11.42 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last announced its 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). The business had revenue of $766.77 million for the quarter, compared to the consensus estimate of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 43.42%. On average, analysts predict that Tele2 will post 0.78 earnings per share 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.