Tele2 (OTCMKTS:TLTZY) Shares Gap Down – Here’s Why

by · The Cerbat Gem

Tele2 (OTCMKTS:TLTZY – Get Free Report) shares gapped down prior to trading on Tuesday. The stock had previously closed at $8.30, but opened at $8.00. Tele2 shares last traded at $8.00, with a volume of 620 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BNP Paribas Exane cut shares of Tele2 from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 9th. Zacks Research lowered shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Sanford C. Bernstein downgraded shares of Tele2 to a “market perform” rating in a report on Thursday. One research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Check Out Our Latest Report on TLTZY

Tele2 Stock Down 1.5%

The company has a market cap of $11.25 billion, a price-to-earnings ratio of 10.48 and a beta of 0.39. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.70 and a quick ratio of 0.64. The firm has a 50-day moving average price of $8.64 and a 200 day moving average price of $9.34.

Tele2 (OTCMKTS:TLTZY – Get Free Report) last released its quarterly 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 firm had revenue of $766.77 million for the quarter, compared to analyst estimates of $750.18 million. Tele2 had a return on equity of 43.42% and a net margin of 33.96%. Sell-side analysts predict that Tele2 will post 0.78 EPS for the current year.

About Tele2

(Get Free Report)

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

The company also provides business connectivity, communications and Internet of Things services, helping organizations connect employees, locations, devices and industrial applications. Tele2 serves customers primarily in Sweden and the Baltic region, including Lithuania, Latvia and Estonia.

Founded in 1993, Tele2 established itself as a challenger in the Nordic telecommunications market and has expanded and reshaped its operations through acquisitions, disposals and partnerships.

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