Tele2 (OTCMKTS:TLTZY) Shares Gap Down After Earnings Miss

Tele2 (OTCMKTS:TLTZY) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.71, but opened at $8.2950. Tele2 shares last traded at $8.2159, with a volume of 29,499 shares.

The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $766.77 million during the quarter, compared to analyst estimates of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 42.92%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research downgraded shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Tele2 in a report on Tuesday, April 21st. Citigroup lowered shares of Tele2 from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Tele2 Trading Up 0.2%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.03. The firm has a market capitalization of $11.35 billion, a P/E ratio of 10.62 and a beta of 0.40. The firm has a 50 day simple moving average of $9.21 and a two-hundred day simple moving average of $9.66.

Tele2 Company Profile

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.