Scotiabank Raises Millicom International Cellular (NASDAQ:TIGO) Price Target to $30.00

Millicom International Cellular (NASDAQ:TIGO) had its target price boosted by Scotiabank from $26.80 to $30.00 in a research report report published on Friday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. HSBC raised their price target on shares of Millicom International Cellular from $22.50 to $24.00 and gave the company a buy rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a research note on Tuesday, May 28th. They issued an overweight rating and a $30.00 price target on the stock. Finally, New Street Research raised shares of Millicom International Cellular from a neutral rating to a buy rating and raised their target price for the stock from $20.00 to $24.00 in a research note on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and an average target price of $27.00.

Millicom International Cellular Trading Down 0.6 %

Shares of Millicom International Cellular stock opened at $22.84 on Friday. The firm has a market capitalization of $2.32 billion, a PE ratio of 456.80 and a beta of 1.20. Millicom International Cellular has a twelve month low of $14.46 and a twelve month high of $25.60. The firm’s 50-day moving average price is $22.73 and its 200 day moving average price is $19.61. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 1.74.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.54 earnings per share for the quarter. The firm had revenue of $1.49 billion for the quarter. Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%. On average, sell-side analysts predict that Millicom International Cellular will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TIGO. Tower Research Capital LLC TRC lifted its stake in Millicom International Cellular by 1,431.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,303 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Millicom International Cellular during the 3rd quarter worth approximately $29,000. Principal Securities Inc. acquired a new stake in shares of Millicom International Cellular during the 4th quarter worth approximately $87,000. SG Americas Securities LLC increased its holdings in shares of Millicom International Cellular by 13.1% during the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after buying an additional 920 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of Millicom International Cellular during the 3rd quarter worth approximately $277,000.

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.