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

Shares of Tele2 (OTCMKTS:TLTZY) gapped down prior to trading on Thursday . The stock had previously closed at $11.43, but opened at $10.88. Tele2 shares last traded at $10.4090, with a volume of 5,358 shares trading hands.

Wall Street Analysts Forecast Growth

TLTZY has been the topic of a number of analyst reports. New Street Research upgraded shares of Tele2 to a “buy” rating in a research report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Tele2 in a report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Tele2 Price Performance

The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 31.00 and a beta of 0.45. The company’s 50 day moving average is $8.88 and its 200 day moving average is $8.46. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.57 and a quick ratio of 0.53.

Tele2 (OTCMKTS:TLTZY) last issued its earnings results on Wednesday, January 28th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Tele2 had a return on equity of 21.68% and a net margin of 15.40%.The company had revenue of $854.77 million for the quarter, compared to analyst estimates of $866.14 million. Research analysts forecast that Tele2 will post 0.28 earnings per share 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.