Tele2 (OTCMKTS:TLTZY) Reaches New 12-Month High - Here's Why

Key Points

• Tele2's share price reached a new 52-week high of $8.59 during trading on Monday, up from a previous close of $8.34, demonstrating positive momentum in the stock.
• Several analytics firms have upgraded Tele2's stock rating to "strong-buy" or "buy", including Pareto Securities and UBS Group, indicating increased investor confidence.
• In its last quarterly earnings report, Tele2 reported an EPS of $0.09, exceeding estimates, with a revenue of $750.96 million, suggesting potential growth for the upcoming year.

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.59 and last traded at $8.59, with a volume of 1460 shares traded. The stock had previously closed at $8.34.

Wall Street Analyst Weigh In

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

Tele2 Price Performance

The company's 50 day simple moving average is $7.71 and its 200 day simple moving average is $7.03. The stock has a market capitalization of $11.70 billion, a PE ratio of 29.48 and a beta of 0.50. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Tele2 had a net margin of 14.10% and a return on equity of 19.39%. The company had revenue of $750.96 million during the quarter, compared to analysts' expectations of $7.34 billion. On average, equities analysts anticipate 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.