Tele2 (OTCMKTS:TLTZY) Sees Unusually-High Trading Volume – Here’s What Happened

Tele2 (OTCMKTS:TLTZY – Get Free Report) shares saw strong trading volume on Tuesday. 337,484 shares traded hands 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 research firms recently issued reports on TLTZY. BNP Paribas Exane downgraded shares of Tele2 from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 9th. Sanford C. Bernstein lowered shares of Tele2 to a “market perform” rating in a research report on Thursday, September 24th. Kepler Capital Markets raised shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Zacks Research cut shares of Tele2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

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Read Our Latest Stock Analysis on Tele2

Tele2 Stock Performance

The stock has a market cap of $10.40 billion, a P/E ratio of 9.69 and a beta of 0.38. The firm has a 50 day moving average of $8.50 and a two-hundred day moving average of $9.12. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.64 and a current ratio of 0.70.

Tele2 (OTCMKTS:TLTZY – Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tele2 had a return on equity of 43.42% and a net margin of 33.96%. The business had revenue of $766.77 million during the quarter, compared to the consensus estimate of $750.18 million. On average, research analysts predict that Tele2 will post 0.78 EPS for the current fiscal year.

About Tele2

(Get Free Report)

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.

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