Tele2 (OTCMKTS:TLTZY) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of Tele2 (OTCMKTS:TLTZY) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Citigroup cut shares of Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Kepler Capital Markets raised shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Tele2 Stock Up 1.8%

Shares of TLTZY traded up $0.15 during midday trading on Thursday, hitting $8.67. 159,592 shares of the company’s stock traded hands, compared to its average volume of 153,755. Tele2 has a 1 year low of $6.88 and a 1 year high of $11.61. The firm’s fifty day moving average is $9.37 and its 200-day moving average is $9.65. 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 stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 11.12 and a beta of 0.40.

Tele2 (OTCMKTS:TLTZY) last announced 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. Tele2 had a return on equity of 44.93% and a net margin of 34.19%.The firm had revenue of $764.89 million for the quarter, compared to the consensus estimate of $775.46 million. As a group, sell-side analysts anticipate that Tele2 will post 0.83 earnings per share 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.