Tele2 (OTCMKTS:TLTZY) Shares Gap Down – Should You Sell?

Shares of Tele2 (OTCMKTS:TLTZY) gapped down prior to trading on Friday . The stock had previously closed at $8.86, but opened at $8.42. Tele2 shares last traded at $8.39, with a volume of 6,320 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Kepler Capital Markets raised shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Finally, BNP Paribas Exane lowered shares of Tele2 from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Tele2 currently has a consensus rating of “Moderate Buy”.

Tele2 Stock Down 4.0%

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 firm’s fifty day simple moving average is $8.65 and its 200 day simple moving average is $9.44. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 10.90 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last announced its earnings results on Thursday, July 16th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Tele2 had a net margin of 33.96% and a return on equity of 43.42%. The firm had revenue of $766.77 million during the quarter, compared to analyst estimates of $750.18 million. On average, sell-side analysts forecast that Tele2 will post 0.78 earnings per share for the current year.

About Tele2

Tele2 AB is a Sweden-based telecommunications company that provides connectivity and digital communications services to consumers, businesses and public-sector organizations. Its offerings include mobile voice and data services, fixed broadband, telephony, television and related digital solutions.

The company also provides business connectivity, communications and Internet of Things services, helping organizations connect employees, locations, devices and industrial applications. Tele2 serves customers primarily in Sweden and the Baltic region, including Lithuania, Latvia and Estonia.

Founded in 1993, Tele2 established itself as a challenger in the Nordic telecommunications market and has expanded and reshaped its operations through acquisitions, disposals and partnerships.