Tele2 (OTCMKTS:TLTZY) Shares Gap Up on Analyst Upgrade

Shares of Tele2 (OTCMKTS:TLTZY) gapped up before the market opened on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $9.55, but opened at $10.09. Tele2 shares last traded at $9.98, with a volume of 3,231 shares trading hands.

A number of other brokerages have also recently weighed in on TLTZY. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tele2 currently has a consensus rating of “Buy”.

Tele2 Price Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.53 and a current ratio of 0.57. The stock has a 50-day simple moving average of $10.31 and a 200 day simple moving average of $9.31. The company has a market cap of $13.65 billion, a P/E ratio of 12.77 and a beta of 0.42.

Tele2 (OTCMKTS:TLTZY) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.40. The company had revenue of $764.89 million during the quarter, compared to the consensus estimate of $775.46 million. Tele2 had a net margin of 34.19% and a return on equity of 49.95%. On average, equities analysts expect that Tele2 will post 0.44 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.