HSBC downgraded shares of Millicom International Cellular (NASDAQ:TIGO – Free Report) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat Ratings reports.
Other research analysts have also issued reports about the stock. Scotiabank upped their target price on shares of Millicom International Cellular from $26.80 to $30.00 and gave the stock a sector outperform rating in a research report on Friday, June 21st. JPMorgan Chase & Co. began coverage on Millicom International Cellular in a report on Tuesday, May 28th. They issued an overweight rating and a $30.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $27.00.
Check Out Our Latest Report on TIGO
Millicom International Cellular Stock Performance
Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter. Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%. The business had revenue of $1.49 billion during the quarter. Equities analysts expect that Millicom International Cellular will post 2.57 earnings per share for the current year.
Hedge Funds Weigh In On Millicom International Cellular
Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD bought a new position in shares of Millicom International Cellular during the first quarter valued at about $1,216,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Millicom International Cellular by 29.5% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 61,784 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 14,092 shares during the period. Gabelli Funds LLC grew its position in Millicom International Cellular by 17.2% during the 1st quarter. Gabelli Funds LLC now owns 88,833 shares of the technology company’s stock worth $1,797,000 after acquiring an additional 13,020 shares during the last quarter. Clifford Capital Partners LLC increased its stake in Millicom International Cellular by 8.7% in the 1st quarter. Clifford Capital Partners LLC now owns 42,867 shares of the technology company’s stock worth $867,000 after purchasing an additional 3,427 shares during the period. Finally, SG Americas Securities LLC increased its stake in Millicom International Cellular by 13.1% in the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after purchasing an additional 920 shares during the period.
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.
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