Tele2 (OTCMKTS:TLTZY) Sees Unusually-High Trading Volume – Here’s Why

Tele2 (OTCMKTS:TLTZY) shares saw strong trading volume on Monday . Approximately 156,138 shares changed hands during mid-day trading, an increase of 168% from the previous session’s volume of 58,248 shares.The stock last traded at $8.88 and had previously closed at $8.95.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TLTZY. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Citigroup lowered Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Three 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Tele2 Stock Down 0.8%

The business’s fifty day moving average price is $9.70 and its 200 day moving average price is $9.62. The company has a market capitalization of $12.17 billion, a P/E ratio of 11.39 and a beta of 0.39. 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, beating the consensus estimate of $0.10 by $0.40. Tele2 had a net margin of 34.19% and a return on equity of 44.93%. The business had revenue of $764.89 million for the quarter, compared to analyst estimates of $775.46 million. As a group, equities research analysts predict 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.