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

Tele2 (OTCMKTS:TLTZY) shares 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently 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 cut 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 equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Tele2 Price Performance

The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 12.24 and a beta of 0.39. The business’s 50-day simple moving average is $10.03 and its two-hundred day simple moving average is $9.49. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70.

Tele2 (OTCMKTS:TLTZY) last released its 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 during 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, research analysts expect that Tele2 will post 0.83 EPS for the current fiscal year.

Tele2 Company Profile

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.