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

Tele2 (OTCMKTS:TLTZY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.3750, but opened at $8.7850. Tele2 shares last traded at $8.8025, with a volume of 1,007 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TLTZY. BNP Paribas Exane upgraded Tele2 from a “hold” rating to an “outperform” rating in a research report on Thursday, October 2nd. New Street Research raised shares of Tele2 to a “buy” rating in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Tele2 Trading Up 6.3%

The firm has a market capitalization of $12.28 billion, a PE ratio of 28.94 and a beta of 0.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.68 and a quick ratio of 0.63. The company has a fifty day moving average of $8.04 and a 200-day moving average of $8.14.

Tele2 (OTCMKTS:TLTZY) last issued its earnings results on Tuesday, October 21st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Tele2 had a net margin of 14.75% and a return on equity of 20.33%. The firm had revenue of $782.33 million during the quarter, compared to analysts’ expectations of $789.39 million. On average, sell-side analysts anticipate that Tele2 will post 0.28 earnings per share for the current fiscal 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.