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

Key Points

• Tele2 shares opened at $8.45 after closing at $8.78, indicating a gap down before the market opened on Tuesday.
• Equities research analysts have upgraded Tele2 to a "strong-buy" rating, with three analysts giving a Strong Buy and one a Buy rating.
• In the last quarterly earnings report, Tele2 reported $0.09 EPS, surpassing the expected $0.08, along with a net margin of 14.10% and revenue of $750.96 million.

Tele2 (OTCMKTS:TLTZY - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $8.78, but opened at $8.45. Tele2 shares last traded at $8.45, with a volume of 328 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Pareto Securities raised shares of Tele2 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 report on Monday, August 4th. Finally, Kepler Capital Markets upgraded 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 assigned a Buy rating to the company. According to MarketBeat.com, Tele2 currently has a consensus rating of "Strong Buy".

Tele2 Price Performance

The stock has a market capitalization of $11.26 billion, a P/E ratio of 28.38 and a beta of 0.53. The business has a fifty day simple moving average of $8.28 and a 200 day simple moving average of $7.44. 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 posted its earnings results on Thursday, July 17th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Tele2 had a return on equity of 19.39% and a net margin of 14.10%.The company had revenue of $750.96 million for the quarter, compared to analyst estimates of $7.34 billion. On average, analysts expect that Tele2 will post 0.28 earnings per share for the current year.

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.