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

Tele2 (OTCMKTS:TLTZY) shares saw unusually-strong trading volume on Friday . Approximately 174,155 shares traded hands during trading, an increase of 260% from the previous session’s volume of 48,416 shares.The stock last traded at $9.84 and had previously closed at $9.66.

Analyst Ratings Changes

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

Tele2 Trading Up 2.2%

The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 12.66 and a beta of 0.39. The company has a fifty day moving average price of $10.02 and a two-hundred day moving average price of $9.51. 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 issued its earnings results on Wednesday, April 22nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.40. The business had revenue of $764.89 million for the quarter, compared to analysts’ expectations of $775.46 million. Tele2 had a return on equity of 44.93% and a net margin of 34.19%. As a group, research analysts forecast that Tele2 will post 0.83 earnings per share 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.