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

Shares of Tele2 (OTCMKTS:TLTZY) saw unusually-high trading volume on Tuesday. Approximately 337,484 shares were traded during mid-day trading, an increase of 306% from the previous session’s volume of 83,048 shares. The stock last traded at $7.47 and had previously closed at $7.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TLTZY. Sanford C. Bernstein lowered Tele2 to a “market perform” rating in a report on Thursday, September 24th. Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Zacks Research lowered Tele2 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, BNP Paribas Exane cut Tele2 from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tele2 currently has an average rating of “Hold”.

Tele2 Stock Down 1.8%

The business’s fifty day moving average price is $8.53 and its 200 day moving average price is $9.15. The company has a market capitalization of $10.41 billion, a P/E ratio of 9.70 and a beta of 0.38. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.94.

Tele2 (OTCMKTS:TLTZY) last issued its earnings results on Thursday, July 16th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $766.77 million for the quarter, compared to analyst estimates of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 43.42%. As a group, equities research analysts predict that Tele2 will post 0.78 earnings per share for the current fiscal year.

Tele2 Company Profile

Tele2 AB is a Swedish telecommunications company that provides mobile and fixed communications services to consumers, businesses and public-sector customers. Its offerings include mobile voice and data services, broadband connectivity, fixed-line communications, digital television and related communications solutions.

The company also provides internet-of-things (IoT) connectivity and other business services designed to help organizations connect devices, manage communications and support digital operations.