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

Tele2 (OTCMKTS:TLTZY) shares saw unusually-high trading volume on Wednesday . 175,399 shares traded hands during trading, an increase of 149% from the previous session’s volume of 70,375 shares.The stock last traded at $8.2250 and had previously closed at $8.02.

Wall Street Analysts Forecast Growth

TLTZY has been the subject of several research analyst reports. Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. Finally, Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Tele2 currently has a consensus rating of “Moderate Buy”.

Tele2 Trading Up 2.6%

The firm has a 50 day moving average price of $9.13 and a two-hundred day moving average price of $9.66. The firm has a market capitalization of $11.28 billion, a P/E ratio of 10.55 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.03.

Tele2 (OTCMKTS:TLTZY) last posted its quarterly earnings data on Thursday, July 16th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tele2 had a return on equity of 42.92% and a net margin of 33.96%.The company had revenue of $766.77 million for the quarter, compared to analyst estimates of $750.18 million. On average, equities research analysts expect that Tele2 will post 0.8 EPS for the current fiscal year.

Tele2 Company Profile

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.