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

Tele2 (OTCMKTS:TLTZY) gapped up before the market opened on Thursday. The stock had previously closed at $7.58, but opened at $8.28. Tele2 shares last traded at $8.28, with a volume of 667 shares changing hands.

Wall Street Analysts Forecast Growth

TLTZY has been the subject of several recent research reports. Sanford C. Bernstein lowered Tele2 to a “market perform” rating in a report on Thursday, September 24th. Kepler Capital Markets raised Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. BNP Paribas Exane downgraded Tele2 from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 9th. Finally, Zacks Research cut Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Tele2 has a consensus rating of “Hold”.

Tele2 Trading Up 4.2%

The firm has a market capitalization of $10.84 billion, a P/E ratio of 10.10 and a beta of 0.38. The stock’s 50-day simple moving average is $8.50 and its two-hundred day simple moving average is $9.12. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.70 and a quick ratio of 0.64.

Tele2 (OTCMKTS:TLTZY) last announced its quarterly earnings data on Thursday, July 16th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tele2 had a net margin of 33.96% and a return on equity of 43.42%. The firm had revenue of $766.77 million for the quarter, compared to the consensus estimate of $750.18 million. Equities research analysts expect that Tele2 will post 0.78 EPS for the current year.

Tele2 Company Profile

Tele2 AB is a Swedish telecommunications company that provides mobile and fixed communications services to consumers, businesses and public-sector customers. Its offerings include mobile voice and data services, broadband connectivity, fixed-line communications, digital television and related communications solutions.

The company also provides internet-of-things (IoT) connectivity and other business services designed to help organizations connect devices, manage communications and support digital operations.