Tele2 (OTCMKTS:TLTZY) Shares Gap Up - Should You Buy?

Key Points

• Tele2's stock price opened at $8.87, having previously closed at $8.43, indicating a positive market reaction.
• Financial analysts have upgraded Tele2, with two firms issuing a "strong-buy" rating and one a "buy" rating, leading to a consensus rating of "Strong Buy".
• Tele2 reported earnings per share of $0.09, exceeding the consensus estimate of $0.08, alongside a revenue of $750.96 million for the quarter.

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.43, but opened at $8.87. Tele2 shares last traded at $8.87, with a volume of 813 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on TLTZY shares. Pareto Securities raised Tele2 to a "strong-buy" rating in a research report on Friday, July 18th. UBS Group upgraded shares of Tele2 from a "sell" rating to a "buy" rating in a report on Monday, August 4th. Finally, Kepler Capital Markets upgraded shares of Tele2 from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Strong Buy".

Tele2 Price Performance

The firm has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $7.53. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 29.14 and a beta of 0.52. 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 announced its quarterly earnings results on Thursday, July 17th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $750.96 million for the quarter, compared to the consensus estimate of $7.34 billion. Tele2 had a return on equity of 19.39% and a net margin of 14.10%. As a group, analysts predict that Tele2 will post 0.28 earnings per share for the current fiscal 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.

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