Tele2 (OTCMKTS:TLTZY) Sees Strong Trading Volume – What’s Next?

Tele2 (OTCMKTS:TLTZY) shares saw unusually-high trading volume on Tuesday . 159,339 shares changed hands during trading, an increase of 153% from the previous session’s volume of 63,098 shares.The stock last traded at $8.42 and had previously closed at $8.43.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Zacks Research upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Tele2 Price Performance

The company’s 50-day simple moving average is $9.42 and its 200 day simple moving average is $9.65. The company has a market capitalization of $11.87 billion, a P/E ratio of 11.10 and a beta of 0.40. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 0.70.

Tele2 (OTCMKTS:TLTZY) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.40. The business had revenue of $764.89 million for the quarter, compared to the consensus estimate of $775.46 million. Tele2 had a net margin of 34.19% and a return on equity of 44.93%. As a group, sell-side analysts expect that Tele2 will post 0.83 earnings per share for the current fiscal 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.