Tele2 (OTCMKTS:TLTZY) Sees Large Volume Increase – Still a Buy?

Tele2 (OTCMKTS:TLTZY) shares saw unusually-high trading volume on Wednesday . Approximately 175,399 shares were traded 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 a number of research reports. Zacks Research downgraded Tele2 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Citigroup downgraded Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Tele2 in a research note on Tuesday, April 21st. One research 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, the company presently has an average rating of “Moderate Buy”.

Tele2 Stock Performance

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

Tele2 (OTCMKTS:TLTZY) last posted its earnings results on Thursday, July 16th. The company reported $0.09 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 return on equity of 42.92% and a net margin of 33.96%. As a group, sell-side analysts anticipate that Tele2 will post 0.8 EPS 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.