Millicom International Cellular (NASDAQ:TIGO) Stock Rating Lowered by Hsbc Global Res

Millicom International Cellular (NASDAQ:TIGO) was downgraded by investment analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

Other equities research analysts have also issued research reports about the company. HSBC lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. started coverage on Millicom International Cellular in a research report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Scotiabank raised their target price on 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and an average price target of $27.00.

Millicom International Cellular Trading Up 1.1 %

TIGO stock opened at $24.95 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.74. The business’s 50-day moving average is $23.37 and its two-hundred day moving average is $20.05. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $25.60.

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

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in TIGO. Tower Research Capital LLC TRC increased its position in Millicom International Cellular by 1,431.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after buying an additional 1,303 shares during the period. Principal Securities Inc. acquired a new position in Millicom International Cellular during the fourth quarter worth approximately $87,000. SG Americas Securities LLC increased its position in Millicom International Cellular by 13.1% during the first 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 period. LWM Advisory Services LLC increased its position in Millicom International Cellular by 152.7% during the fourth quarter. LWM Advisory Services LLC now owns 29,422 shares of the technology company’s stock worth $530,000 after buying an additional 17,779 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Millicom International Cellular during the third quarter worth approximately $627,000.

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.