Tele2 (OTCMKTS:TLTZY) Short Interest Down 70.1% in July

Key Points

• Tele2 short interest fell sharply in July, dropping 70.1% to 24,110 shares as of July 15 from 80,604 shares on June 30. The stock’s days-to-cover ratio is now just 0.1 days.
• Analyst sentiment is mixed but moderately positive, with one Strong Buy, three Buy, and three Hold ratings. MarketBeat says the stock currently carries an average rating of Moderate Buy.
• Tele2’s latest earnings were mixed: it posted $0.09 EPS, missing estimates by $0.01, while revenue of $766.77 million came in above expectations. The company also reported strong profitability, with a 42.92% return on equity and a 33.96% net margin.

Tele2 (OTCMKTS:TLTZY - Get Free Report) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 24,110 shares, a decline of 70.1% from the June 30th total of 80,604 shares. Based on an average daily volume of 300,529 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

TLTZY has been the subject of a number of recent analyst reports. Citigroup cut Tele2 from a "buy" rating to a "neutral" rating in a research report on Thursday, May 7th. Kepler Capital Markets upgraded shares of Tele2 from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Zacks Research cut shares of Tele2 from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Tele2 in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Tele2 presently has an average rating of "Moderate Buy".

Tele2 Stock Up 1.6%

Shares of TLTZY opened at $8.27 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. Tele2 has a 12 month low of $7.39 and a 12 month high of $11.61. The stock's 50 day moving average is $9.03 and its two-hundred day moving average is $9.64. The firm has a market cap of $11.34 billion, a P/E ratio of 10.60 and a beta of 0.40.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $766.77 million for the quarter, compared to analysts' expectations of $750.18 million. Tele2 had a return on equity of 42.92% and a net margin of 33.96%. Analysts predict that Tele2 will post 0.78 earnings per share for the current fiscal year.

About Tele2

Tele2 AB is a European telecommunications company headquartered in Kista, Sweden. Since its founding in 1993, the firm has developed into a full-service provider of voice, data and multimedia solutions for both consumer and business markets. Its core offerings include mobile telephony, fixed and mobile broadband, voice over IP, digital television services and data network solutions, alongside emerging Internet of Things (IoT) and machine-to-machine connectivity products.

Tele2 operates primarily across the Nordic and Baltic regions, with key markets in Sweden, Estonia, Latvia and Lithuania.

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