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

Key Points

• Tele2's stock price experienced a significant gap down, opening at $8.49 after closing at $9.03, with the last traded price at $8.72.
• Despite the drop in stock price, several analysts have upgraded Tele2, resulting in a current consensus rating of "Strong Buy".
• For the last quarter, Tele2 reported an EPS of $0.09, exceeding expectations, with total revenue of $750.96 million.

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.03, but opened at $8.49. Tele2 shares last traded at $8.72, with a volume of 339 shares.

Wall Street Analysts Forecast Growth

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

Tele2 Stock Down 3.2%

The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 30.15 and a beta of 0.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.44 and a quick ratio of 0.39. The stock has a 50-day moving average of $8.00 and a 200-day moving average of $7.26.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The company had revenue of $750.96 million for 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%. Sell-side analysts predict that Tele2 will post 0.28 EPS for the current fiscal 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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