Tele2 (OTCMKTS:TLTZY) Sees Unusually-High Trading Volume – Here’s What Happened

Tele2 (OTCMKTS:TLTZY) saw unusually-high trading volume on Monday . 131,121 shares traded hands during trading, an increase of 71% from the previous session’s volume of 76,596 shares.The stock last traded at $8.4275 and had previously closed at $8.60.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research lowered shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Citigroup lowered shares of Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Kepler Capital Markets raised shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Tele2 in a report on Tuesday, April 21st. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Tele2 Stock Performance

The company has a market capitalization of $11.57 billion, a PE ratio of 10.82 and a beta of 0.39. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $8.80 and its 200-day simple moving average is $9.67.

Tele2 (OTCMKTS:TLTZY) last issued its earnings results on Thursday, July 16th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $766.77 million for the quarter, compared to analysts’ expectations of $750.18 million. Tele2 had a return on equity of 43.42% and a net margin of 33.96%. On average, research analysts predict that Tele2 will post 0.78 earnings per share for the current year.

About Tele2

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.