Millicom International Cellular (NASDAQ:TIGO) Issues Quarterly Earnings Results, Misses Expectations By $0.38 EPS

Millicom International Cellular (NASDAQ:TIGO) issued its quarterly earnings results on Thursday. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.38), Briefing.com reports. Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned ($0.03) earnings per share. Millicom International Cellular’s revenue for the quarter was up .5% on a year-over-year basis.

Millicom International Cellular Trading Up 2.8 %

NASDAQ TIGO opened at $27.14 on Friday. The stock’s 50-day moving average price is $27.14 and its 200-day moving average price is $25.19. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.72. Millicom International Cellular has a 52 week low of $15.55 and a 52 week high of $28.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $30.00 to $37.30 in a research note on Friday, September 20th. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $33.00 in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. initiated coverage on Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and an average target price of $30.66.

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.