Tele2 (OTCMKTS:TLTZY) Shares Gap Down After Earnings Miss

Tele2 (OTCMKTS:TLTZY)’s stock price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $8.71, but opened at $8.2950. Tele2 shares last traded at $8.2159, with a volume of 29,499 shares trading hands.

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 34.19% and a return on equity of 44.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TLTZY shares. Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Zacks Research lowered Tele2 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, Citigroup cut Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Tele2 currently has an average rating of “Moderate Buy”.

Tele2 Trading Down 5.7%

The company has a market cap of $11.26 billion, a P/E ratio of 10.53 and a beta of 0.40. The business has a fifty day simple moving average of $9.28 and a 200 day simple moving average of $9.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.03.

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.