Millicom International Cellular S.A. (NASDAQ:TIGO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.66.

A number of equities analysts have recently commented on TIGO shares. JPMorgan Chase & Co. assumed coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 price objective for the company. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price target for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. Finally, Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $30.00 to $37.30 in a research note on Friday, September 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its stake in Millicom International Cellular by 138.9% in the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after purchasing an additional 157,205 shares in the last quarter. Renaissance Technologies LLC lifted its position in Millicom International Cellular by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after buying an additional 83,939 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Millicom International Cellular during the 1st quarter worth about $1,216,000. Charles Schwab Investment Management Inc. increased its position in Millicom International Cellular by 95.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after acquiring an additional 52,638 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Millicom International Cellular in the second quarter worth about $884,000.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $24.82 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a fifty-two week low of $15.55 and a fifty-two week high of $28.75. The business has a 50-day moving average of $26.95 and a two-hundred day moving average of $25.71. The stock has a market capitalization of $2.53 billion, a P/E ratio of 26.40 and a beta of 1.23.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, equities research analysts predict that Millicom International Cellular will post 2.33 EPS for the current fiscal year.

Millicom International Cellular Company Profile

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.