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

Tele2 (OTCMKTS:TLTZY) shares saw strong trading volume on Tuesday. Approximately 337,484 shares were traded during mid-day trading, an increase of 306% from the previous session’s volume of 83,048 shares. The stock last traded at $7.47 and had previously closed at $7.70.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. BNP Paribas Exane cut Tele2 from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 9th. Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Zacks Research lowered Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Finally, Sanford C. Bernstein downgraded Tele2 to a “market perform” rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Tele2 Trading Down 1.8%

The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.94. The business’s fifty day simple moving average is $8.53 and its two-hundred day simple moving average is $9.15. The stock has a market capitalization of $10.41 billion, a P/E ratio of 9.70 and a beta of 0.38.

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 43.42% and a net margin of 33.96%. The company had revenue of $766.77 million for the quarter, compared to the consensus estimate of $750.18 million. As a group, analysts forecast that Tele2 will post 0.78 earnings per share 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.