Tele2 (OTCMKTS:TLTZY) Sees Strong Trading Volume – Here’s Why

Shares of Tele2 (OTCMKTS:TLTZY) saw an uptick in trading volume on Friday . 174,155 shares were traded during mid-day trading, an increase of 260% from the previous session’s volume of 48,416 shares.The stock last traded at $9.84 and had previously closed at $9.66.

Analyst Upgrades and Downgrades

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

Tele2 Price Performance

The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 12.66 and a beta of 0.39. The firm has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $9.51. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70.

Tele2 (OTCMKTS:TLTZY) last posted its earnings results on Wednesday, April 22nd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.10 by $0.40. The firm 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%. As a group, analysts predict 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.