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

Shares of Tele2 (OTCMKTS:TLTZY) saw unusually-strong trading volume on Friday . Approximately 39,861 shares changed hands during mid-day trading, an increase of 262% from the previous session’s volume of 11,005 shares.The stock last traded at $8.24 and had previously closed at $8.21.

Analysts Set New Price Targets

Several brokerages recently issued reports on TLTZY. Kepler Capital Markets raised Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 18th. UBS Group upgraded shares of Tele2 from a “sell” rating to a “buy” rating in a report on Monday, August 4th. Finally, Pareto Securities raised shares of Tele2 to a “strong-buy” rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat, Tele2 presently has an average rating of “Strong Buy”.

Tele2 Stock Up 1.1%

The firm has a 50-day moving average price of $8.38 and a two-hundred day moving average price of $7.52. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 28.62 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.39 and a current ratio of 0.44.

Tele2 (OTCMKTS:TLTZY) last released its quarterly earnings data on Thursday, July 17th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $750.96 million during the quarter, compared to the consensus estimate of $7.34 billion. Tele2 had a net margin of 14.10% and a return on equity of 19.39%. On average, sell-side analysts forecast that Tele2 will post 0.28 earnings per share for the current year.

About Tele2

Tele2 AB (publ) provides fixed and mobile connectivity, handset related data services, and entertainment services in Sweden, Lithuania, Latvia, and Estonia. The company offers mobile telephony and data, fixed broadband, fixed telephony, switch and contact center, cloud services, IT services, network services, workplace, video and collaboration, united communications, and security services.