Tele2 (OTCMKTS:TLTZY) Sees Strong Trading Volume – Here’s Why

Tele2 (OTCMKTS:TLTZY) shares saw unusually-high trading volume on Monday . 131,121 shares were traded during mid-day trading, an increase of 71% from the previous session’s volume of 76,596 shares.The stock last traded at $8.4275 and had previously closed at $8.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TLTZY shares. Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Zacks Research cut Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Finally, Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Tele2 Stock Performance

The stock has a fifty day simple moving average of $8.77 and a two-hundred day simple moving average of $9.67. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market capitalization of $11.61 billion, a price-to-earnings ratio of 10.86 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last announced its 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 net margin of 33.96% and a return on equity of 43.42%. The business had revenue of $766.77 million for the quarter, compared to the consensus estimate of $750.18 million. Analysts forecast that Tele2 will post 0.78 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.