Analysts Set Millicom International Cellular S.A. (NASDAQ:TIGO) PT at $29.20

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $30.66.

Several research analysts recently commented on TIGO shares. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $30.00 to $37.30 in a report on Friday. HSBC downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. started coverage on Millicom International Cellular in a research report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, Hsbc Global Res cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TIGO. LB Partners LLC increased its holdings in Millicom International Cellular by 0.4% in the 2nd quarter. LB Partners LLC now owns 502,000 shares of the technology company’s stock valued at $12,324,000 after purchasing an additional 2,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Millicom International Cellular by 35.4% in the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after acquiring an additional 83,939 shares in the last quarter. Millennium Management LLC grew its holdings in Millicom International Cellular by 138.9% during the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after acquiring an additional 157,205 shares during the period. Morningstar Investment Services LLC grew its holdings in shares of Millicom International Cellular by 105.6% in the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after acquiring an additional 126,679 shares during the last quarter. Finally, Renaissance Group LLC lifted its position in shares of Millicom International Cellular by 6.5% in the 4th quarter. Renaissance Group LLC now owns 139,565 shares of the technology company’s stock valued at $2,512,000 after acquiring an additional 8,508 shares in the last quarter.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $28.07 on Tuesday. Millicom International Cellular has a one year low of $14.46 and a one year high of $28.25. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 561.40 and a beta of 1.23. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 0.66. The business’s 50 day moving average price is $25.86 and its 200 day moving average price is $23.44.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Friday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.05). The business had revenue of $1.46 billion for the quarter. Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. During the same period last year, the business posted ($0.13) earnings per share. On average, research analysts predict that Millicom International Cellular will post 2.33 EPS for the current year.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.