Tele2 (OTCMKTS:TLTZY) Trading 4,525.6% Higher - What's Next?

Key Points

• Tele2's share price surged by 4,525.6% on Tuesday, with the stock reaching a high of $411.22, a notable increase from its previous closing price of $8.89.
• Investment analysts have reacted positively, with multiple firms upgrading Tele2 to a "strong-buy" or "buy" rating, resulting in an average rating of "Strong Buy" from analysts.
• The company reported a quarterly earnings per share of $0.09, exceeding estimates, and has a market capitalization of $11.99 billion.

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s stock price shot up 4,525.6% during mid-day trading on Tuesday . The company traded as high as $8.89 and last traded at $411.22. 341 shares changed hands during trading, a decline of 97% from the average session volume of 11,918 shares. The stock had previously closed at $8.89.

Wall Street Analysts Forecast Growth

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

Tele2 Price Performance

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.39 and a current ratio of 0.44. The stock has a market capitalization of $12.36 billion, a P/E ratio of 31.14 and a beta of 0.53. The firm has a 50-day moving average price of $8.00 and a 200 day moving average price of $7.25.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $750.96 million for the quarter, compared to analyst estimates of $7.34 billion. Tele2 had a return on equity of 19.39% and a net margin of 14.10%. On average, analysts expect that Tele2 will post 0.28 EPS for the current 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.