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

Tele2 (OTCMKTS:TLTZY)’s stock price 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.

Analysts Set New Price Targets

Several brokerages have weighed in on TLTZY. Citigroup cut Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tele2 presently has a consensus rating of “Buy”.

Tele2 Stock Performance

The stock has a market cap of $13.81 billion, a P/E ratio of 12.92 and a beta of 0.42. The business has a 50 day moving average price of $10.32 and a 200 day moving average price of $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 issued its earnings results on Wednesday, April 22nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.40. The business had revenue of $764.89 million during the quarter, compared to analysts’ expectations of $775.46 million. Tele2 had a return on equity of 49.95% and a net margin of 34.19%. As a group, sell-side analysts expect that Tele2 will post 0.44 EPS for the current 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.