Tele2 (OTCMKTS:TLTZY) Shares Up 7.3% - Still a Buy?

Key Points

• Tele2's share price rose by 7.3% to $9.00, although trading volume was significantly lower than average, indicating potential volatility.
• Multiple brokerages have upgraded Tele2, with ratings ranging from "buy" to "strong-buy," suggesting growing confidence in the stock.
• Tele2 has declared an increased dividend of $0.1013 per share, reflecting a robust dividend yield of 238.0% and a payout ratio of 55.17%.

Tele2 (OTCMKTS:TLTZY - Get Free Report)'s share price shot up 7.3% during mid-day trading on Friday . The stock traded as high as $9.00 and last traded at $9.00. 1,103 shares were traded during trading, a decline of 90% from the average session volume of 11,499 shares. The stock had previously closed at $8.39.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TLTZY. Kepler Capital Markets raised shares of Tele2 from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. UBS Group upgraded shares of Tele2 from a "sell" rating to a "buy" rating in a research report on Monday, August 4th. Pareto Securities upgraded shares of Tele2 to a "strong-buy" rating in a research report on Friday, July 18th. Finally, BNP Paribas upgraded shares of Tele2 from a "hold" rating to an "outperform" rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".

Tele2 Stock Up 7.3%

The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 31.03 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. The stock's 50-day moving average price is $8.54 and its 200-day moving average price is $7.65.

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

Tele2 Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 30th. Stockholders of record on Monday, October 13th will be given a $0.1013 dividend. This is an increase from Tele2's previous dividend of $0.10. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 238.0%. Tele2's dividend payout ratio is presently 55.17%.

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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