Tele2 (OTCMKTS:TLTZY) Shares Gap Down - Here's Why

Key Points

• Tele2 shares opened lower, falling from a previous close of $8.30 to $8.00, while trading volume remained light at 620 shares.
• Analyst sentiment is mixed but leans neutral: Tele2 has an average “Hold” rating, with one Strong Buy, one Buy and five Hold ratings following several recent upgrades and downgrades.
• The company slightly missed quarterly EPS expectations, reporting $0.09 versus the $0.10 consensus, though revenue of $766.77 million exceeded estimates of $750.18 million.

Shares of Tele2 (OTCMKTS:TLTZY - Get Free Report) gapped down before the market opened 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 traded.

Analyst Upgrades and Downgrades

TLTZY has been the subject of a number of research reports. Kepler Capital Markets upgraded Tele2 from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. BNP Paribas Exane cut Tele2 from an "outperform" rating to a "neutral" rating in a research note on Wednesday, September 9th. Sanford C. Bernstein downgraded Tele2 to a "market perform" rating in a research report on Thursday. Finally, Zacks Research cut shares of Tele2 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Tele2 currently has an average rating of "Hold".

Tele2 Stock Down 1.5%

The firm's 50-day simple moving average is $8.64 and its 200 day simple moving average is $9.34. 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 stock has a market capitalization of $11.25 billion, a P/E ratio of 10.48 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last issued its earnings results on Thursday, July 16th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, research analysts expect that Tele2 will post 0.78 EPS for the current year.

Tele2 Company Profile

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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