Tele2 (OTCMKTS:TLTZY) Sees Strong Trading Volume – What’s Next?

Tele2 (OTCMKTS:TLTZY) saw an uptick in trading volume on Tuesday . 159,960 shares were traded during trading, an increase of 105% from the previous session’s volume of 78,059 shares.The stock last traded at $8.9320 and had previously closed at $8.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Kepler Capital Markets upgraded Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Finally, Citigroup cut shares of Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Tele2 Price Performance

The firm has a market capitalization of $12.31 billion, a P/E ratio of 11.47 and a beta of 0.39. 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 business has a 50 day simple moving average of $8.63 and a two-hundred day simple moving average of $9.65.

Tele2 (OTCMKTS:TLTZY) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $766.77 million for the quarter, compared to the consensus estimate of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 43.42%. On average, sell-side analysts expect that Tele2 will post 0.78 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.