Tele2 (OTCMKTS:TLTZY) Shares Gap Up on Better-Than-Expected Earnings

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. 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 trading hands.

The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $750.96 million during the quarter, compared to analysts' expectations of $7.34 billion. Tele2 had a net margin of 13.20% and a return on equity of 18.01%.

Tele2 Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, June 4th. Shareholders of record on Friday, May 16th were given a $0.0972 dividend. This represents a yield of 2.77%. The ex-dividend date of this dividend was Thursday, May 15th. Tele2's dividend payout ratio (DPR) is currently 88.46%.

Tele2 Stock Performance

The firm has a market capitalization of $10.43 billion, a P/E ratio of 29.32 and a beta of 0.51. The company's 50 day moving average is $7.32 and its 200-day moving average is $6.45. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.86.

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.