Tele2 (OTCMKTS:TLTZY) Shares Gap Up Following Strong Earnings

Shares of Tele2 (OTCMKTS:TLTZY - Get Free Report) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $6.98, but opened at $7.44. Tele2 shares last traded at $7.44, with a volume of 8,629 shares changing hands.

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 19.29%. The business had revenue of $750.96 million for the quarter, compared to analyst estimates of $7.34 billion.

Tele2 Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 4th. Stockholders of record on Friday, May 16th were given a dividend of $0.0972 per share. This represents a dividend yield of 2.77%. The ex-dividend date was Thursday, May 15th. Tele2's payout ratio is presently 79.31%.

Tele2 Stock Performance

The company has a current ratio of 0.54, a quick ratio of 0.48 and a debt-to-equity ratio of 0.86. The company's fifty day moving average is $7.33 and its 200 day moving average is $6.48. The company has a market cap of $10.43 billion, a P/E ratio of 26.28 and a beta of 0.51.

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.