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

Key Points

• Tele2's shares gapped down from a previous close of $8.60 to open at $8.05, with the latest trading price at $8.25 and a volume of 622 shares.
• Analysts are optimistic about Tele2's future, with ratings upgrades from multiple firms, leading to an average rating of "Strong Buy."
• The company announced an increase in its dividend to $0.1013 per share, resulting in a substantial yield of 238.0%, effective for investors of record on October 13th.

Tele2 (OTCMKTS:TLTZY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $8.60, but opened at $8.05. Tele2 shares last traded at $8.25, with a volume of 622 shares.

Analyst Ratings Changes

Several analysts recently issued reports on TLTZY shares. BNP Paribas raised Tele2 from a "hold" rating to an "outperform" rating in a report on Thursday, October 2nd. Kepler Capital Markets upgraded Tele2 from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. UBS Group upgraded Tele2 from a "sell" rating to a "buy" rating in a report on Monday, August 4th. Finally, Pareto Securities upgraded Tele2 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 two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".

Tele2 Stock Performance

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 firm has a 50 day moving average price of $8.55 and a 200-day moving average price of $7.68. The company has a market cap of $11.02 billion, a P/E ratio of 27.76 and a beta of 0.52.

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

Tele2 Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 30th. Investors of record on Monday, October 13th will be given a $0.1013 dividend. This represents a yield of 238.0%. This is an increase from Tele2's previous dividend of $0.10. The ex-dividend date of this dividend is Friday, October 10th. Tele2's dividend payout ratio (DPR) is 55.17%.

Tele2 Company Profile

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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