Tele2 (OTCMKTS:TLTZY) Hits New 12-Month High Following Dividend Announcement

Key Points

• Tele2's stock reached a new 52-week high of $9.29 after announcing a new dividend of $0.1013 to be paid on October 30th, up from the previous dividend of $0.10.
• The company received multiple upgrades from analysts, with UBS Group and Pareto Securities both upgrading Tele2 to a "buy" and "strong-buy" rating respectively, leading to a consensus rating of "Strong Buy."
• Tele2 reported a quarterly EPS of $0.09, beating expectations of $0.08, and had revenues of $750.96 million, significantly less than the analyst estimates of $7.34 billion.

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $9.29 and last traded at $8.70, with a volume of 21107 shares. The stock had previously closed at $8.46.The newly announced dividend which will be paid on Thursday, October 30th. Stockholders of record on Monday, October 13th will be paid a $0.1013 dividend. The ex-dividend date is Friday, October 10th. This is a positive change from Tele2's previous dividend of $0.10. This represents a dividend yield of 238.0%. Tele2's dividend payout ratio (DPR) is 55.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group upgraded Tele2 from a "sell" rating to a "buy" rating in a research report on Monday, August 4th. Pareto Securities upgraded shares of Tele2 to a "strong-buy" rating in a research note on Friday, July 18th. Finally, Kepler Capital Markets raised shares of Tele2 from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. Two 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 currently has a consensus rating of "Strong Buy".

Tele2 Trading Up 2.8%

The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 30.00 and a beta of 0.52. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.39 and a current ratio of 0.44. The company has a 50 day moving average price of $8.41 and a two-hundred day moving average price of $7.54.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $750.96 million during the quarter, compared to analyst estimates of $7.34 billion. Tele2 had a net margin of 14.10% and a return on equity of 19.39%. On average, research analysts forecast that Tele2 will post 0.28 EPS 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.

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