Tele2 (OTCMKTS:TLTZY) Sees Unusually-High Trading Volume – Here’s Why

Shares of Tele2 (OTCMKTS:TLTZY) saw unusually-strong trading volume on Tuesday . Approximately 159,960 shares traded hands during mid-day trading, an increase of 105% from the previous session’s volume of 78,059 shares.The stock last traded at $8.9320 and had previously closed at $8.84.

Analyst Ratings Changes

Several brokerages have recently issued reports on TLTZY. Zacks Research lowered Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Citigroup lowered shares of Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Tele2 Stock Up 1.2%

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 stock has a 50-day simple moving average of $8.63 and a 200-day simple moving average of $9.65. The firm has a market capitalization of $12.31 billion, a PE ratio of 11.47 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last issued its earnings results 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). The firm had revenue of $766.77 million during the quarter, compared to the consensus estimate of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 43.42%. Analysts forecast that Tele2 will post 0.78 EPS for the current 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.