Tele2 (OTCMKTS:TLTZY) Shares Gap Down – Here’s What Happened

Shares of Tele2 (OTCMKTS:TLTZY) gapped down before the market opened on Friday . The stock had previously closed at $9.53, but opened at $8.89. Tele2 shares last traded at $9.22, with a volume of 1,955 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on TLTZY. Zacks Research raised shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Citigroup lowered shares of Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Tele2 presently has a consensus rating of “Buy”.

Tele2 Stock Down 0.9%

The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 11.73 and a beta of 0.39. 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 firm has a 50 day moving average price of $10.09 and a two-hundred day moving average price of $9.44.

Tele2 (OTCMKTS:TLTZY) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.40. The business had revenue of $764.89 million for the quarter, compared to analyst estimates of $775.46 million. Tele2 had a return on equity of 44.93% and a net margin of 34.19%. On average, equities analysts expect that Tele2 will post 0.83 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.