Tele2 (OTCMKTS:TLTZY) Shares Gap Down Following Weak Earnings

Tele2 (OTCMKTS:TLTZY) shares gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.07, but opened at $7.7570. Tele2 shares last traded at $7.97, with a volume of 1,338 shares traded.

The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Tele2 had a net margin of 33.96% and a return on equity of 43.42%. The firm had revenue of $788.19 million for the quarter, compared to the consensus estimate of $716.73 million.

Wall Street Analyst Weigh In

A number of research firms have commented on TLTZY. Sanford C. Bernstein lowered shares of Tele2 to a “market perform” rating in a research report on Thursday, September 24th. Zacks Research cut Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, BNP Paribas Exane cut shares of Tele2 from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Tele2 presently has a consensus rating of “Hold”.

Tele2 Price Performance

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 10.22 and a beta of 0.38. The company has a 50-day moving average price of $8.45 and a 200-day moving average price of $9.05.

Tele2 Company Profile

Tele2 AB is a Swedish telecommunications company headquartered in Stockholm. The company provides mobile and fixed-line communications services, broadband, digital television and related connectivity solutions to consumers, businesses and public-sector customers.

Tele2’s offerings include mobile voice and data plans, high-speed broadband, fixed and mobile networks, television services, and business communications solutions. It also provides Internet of Things connectivity and related services for organizations seeking to connect and manage devices and equipment.

Tele2 primarily serves customers in Sweden and the Baltic countries of Estonia, Latvia and Lithuania.