Tele2 (OTCMKTS:TLTZY) Stock Jumps 3.5% – Here’s What Happened

Tele2 (OTCMKTS:TLTZY)’s stock price shot up 3.5% during mid-day trading on Wednesday. The company traded as high as $8.59 and last traded at $8.2150. 4,823 shares were traded during trading, a decline of 94% from the average daily volume of 81,223 shares. The stock had previously closed at $7.94.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TLTZY. Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Sanford C. Bernstein lowered Tele2 to a “market perform” rating in a research report 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. Finally, Zacks Research lowered shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Tele2 Stock Up 1.9%

The stock has a market cap of $10.86 billion, a P/E ratio of 10.12 and a beta of 0.38. The firm’s fifty day moving average is $8.57 and its 200 day moving average is $9.19. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.94.

Tele2 (OTCMKTS:TLTZY) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tele2 had a return on equity of 43.42% and a net margin of 33.96%.The business had revenue of $766.77 million during the quarter, compared to the consensus estimate of $750.18 million. As a group, equities research analysts forecast that Tele2 will post 0.78 EPS for the current year.

Tele2 Company Profile

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.