Tele2 (OTCMKTS:TLTZY) Shares Gap Down on Disappointing Earnings

Shares of Tele2 (OTCMKTS:TLTZY) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $8.71, but opened at $8.2950. Tele2 shares last traded at $8.2159, with a volume of 29,499 shares trading hands.

The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tele2 had a net margin of 34.19% and a return on equity of 44.93%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TLTZY shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Kepler Capital Markets raised Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Zacks Research cut Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Finally, Citigroup downgraded Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Tele2 Stock Performance

The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average is $9.28 and its two-hundred day moving average is $9.67. The stock has a market capitalization of $11.26 billion, a P/E ratio of 10.53 and a beta of 0.40.

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.