Tele2 (OTCMKTS:TLTZY) Sets New 52-Week High After Dividend Announcement

Tele2 (OTCMKTS:TLTZY) hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $9.29 and last traded at $8.70, with a volume of 21107 shares. The stock had previously closed at $8.46.

The newly announced dividend which will be paid on Thursday, October 30th. Investors of record on Monday, October 13th will be issued a dividend of $0.1013 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a yield of 238.0%. This is a positive change from Tele2’s previous dividend of $0.10. Tele2’s payout ratio is 79.31%.

Analyst Upgrades and Downgrades

TLTZY has been the subject of several research reports. BNP Paribas upgraded shares of Tele2 to an “outperform” rating in a research report on Thursday. Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 18th. Pareto Securities raised Tele2 to a “strong-buy” rating in a report on Friday, July 18th. Finally, UBS Group raised Tele2 from a “sell” rating to a “buy” rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, Tele2 presently has an average rating of “Strong Buy”.

Tele2 Trading Up 1.1%

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 firm has a market capitalization of $12.04 billion, a P/E ratio of 30.34 and a beta of 0.52. The business has a 50 day moving average of $8.44 and a 200-day moving average of $7.57.

Tele2 (OTCMKTS:TLTZY) last issued its quarterly earnings results on Thursday, July 17th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Tele2 had a return on equity of 19.39% and a net margin of 14.10%.The company had revenue of $750.96 million for the quarter, compared to analyst estimates of $7.34 billion. Analysts anticipate that Tele2 will post 0.28 EPS 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.