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

Tele2 (OTCMKTS:TLTZY)’s share price gapped down before the market opened 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.

Wall Street Analyst Weigh In

TLTZY has been the subject of a number of recent analyst reports. Kepler Capital Markets raised Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Zacks Research lowered Tele2 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, BNP Paribas Exane cut Tele2 from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Tele2 Stock Performance

The firm has a fifty day moving average of $8.65 and a 200-day moving average of $9.44. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.94. The firm has a market cap of $11.70 billion, a P/E ratio of 10.90 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last released 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). The business had revenue of $766.77 million for the quarter, compared to analyst estimates of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 43.42%. Research analysts predict that Tele2 will post 0.78 earnings per share for the current fiscal 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.