Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase – Here’s What Happened

Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-high trading volume on Tuesday . Approximately 83,203 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 100,763 shares.The stock last traded at $25.03 and had previously closed at $24.90.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TIGO. Scotiabank upgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $30.00 to $37.30 in a research report on Friday, September 20th. JPMorgan Chase & Co. assumed coverage on Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.66.

Millicom International Cellular Price Performance

The stock has a market capitalization of $2.55 billion, a PE ratio of 26.49 and a beta of 1.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The stock’s 50-day moving average is $26.49 and its 200 day moving average is $25.82.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.38). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, equities analysts expect that Millicom International Cellular S.A. will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp acquired a new position in shares of Millicom International Cellular in the second quarter valued at approximately $67,000. Summit Securities Group LLC purchased a new position in Millicom International Cellular during the 2nd quarter worth $98,000. LB Partners LLC lifted its stake in shares of Millicom International Cellular by 0.4% in the 2nd quarter. LB Partners LLC now owns 502,000 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 2,000 shares during the period. Signaturefd LLC boosted its holdings in shares of Millicom International Cellular by 217.9% in the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock valued at $28,000 after acquiring an additional 780 shares in the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Millicom International Cellular during the second quarter worth about $372,000.

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.