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

Tele2 (OTCMKTS:TLTZY)’s share price gapped up prior to trading on Thursday. The stock had previously closed at $7.58, but opened at $8.28. Tele2 shares last traded at $8.28, with a volume of 667 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Sanford C. Bernstein lowered shares of Tele2 to a “market perform” rating in a research note on Thursday, September 24th. BNP Paribas Exane lowered shares of Tele2 from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 9th. Zacks Research cut shares of Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Finally, Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Tele2 Trading Up 4.2%

The stock has a market capitalization of $10.84 billion, a PE ratio of 10.10 and a beta of 0.38. 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 stock has a 50 day moving average price of $8.50 and a 200-day moving average price of $9.12.

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

About Tele2

Tele2 AB is a Swedish telecommunications company that provides mobile and fixed communications services to consumers, businesses and public-sector customers. Its offerings include mobile voice and data services, broadband connectivity, fixed-line communications, digital television and related communications solutions.

The company also provides internet-of-things (IoT) connectivity and other business services designed to help organizations connect devices, manage communications and support digital operations.