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

Tele2 (OTCMKTS:TLTZY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $9.26, but opened at $9.91. Tele2 shares last traded at $9.4995, with a volume of 9,270 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research raised shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, three have given 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 Trading Up 1.4%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.03. The firm has a 50 day simple moving average of $10.03 and a two-hundred day simple moving average of $9.49. The firm has a market capitalization of $13.09 billion, a P/E ratio of 12.24 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.40. Tele2 had a return on equity of 44.93% and a net margin of 34.19%.The business had revenue of $764.89 million for the quarter, compared to analysts’ expectations of $775.46 million. Equities research analysts forecast that Tele2 will post 0.83 earnings per share 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.