Tele2 (OTCMKTS:TLTZY) Reaches New 52-Week High - What's Next?

Key Points

• Tele2's share price has reached a new 52-week high of $9.13, closing at $8.76 with a trading volume of 24,291 shares.
• A growing number of analysts, including Kepler Capital Markets and UBS Group, have upgraded Tele2's rating to "strong-buy", reflecting positive market sentiment.
• The company reported earnings of $0.09 per share in its last quarterly release, surpassing expectations and indicating a return on equity of 19.39%.

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $9.13 and last traded at $8.76, with a volume of 24291 shares traded. The stock had previously closed at $8.91.

Wall Street Analysts Forecast Growth

A number of brokerages have commented 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 raised Tele2 from a "sell" rating to a "buy" rating in a research note on Monday, August 4th. Finally, Pareto Securities raised Tele2 to a "strong-buy" rating in a research note on Friday, July 18th. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, Tele2 presently has a consensus rating of "Strong Buy".

Tele2 Trading Down 1.7%

The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $7.94 and a two-hundred day simple moving average of $7.19. The firm has a market cap of $11.99 billion, a PE ratio of 30.21 and a beta of 0.53.

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