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

Tele2 (OTCMKTS:TLTZY) shares gapped up prior to trading on Tuesday . 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 traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup lowered shares of Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Tele2 Stock Up 1.1%

The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 12.92 and a beta of 0.42. The business’s 50-day moving average is $10.32 and its 200-day moving average is $9.28. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 0.90.

Tele2 (OTCMKTS:TLTZY) last posted its earnings results on Wednesday, April 22nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Tele2 will post 0.44 earnings per share 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.