Millicom International Cellular (NASDAQ:TIGO) Sets New 12-Month High at $27.53

Millicom International Cellular S.A. (NASDAQ:TIGO) hit a new 52-week high during trading on Thursday . The stock traded as high as $27.53 and last traded at $27.53, with a volume of 25690 shares trading hands. The stock had previously closed at $26.98.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price objective for the company. Hsbc Global Res lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $33.00 in a research note on Thursday, August 15th. HSBC cut Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Scotiabank restated a “sector perform” rating and set a $30.00 price target on shares of Millicom International Cellular in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

Millicom International Cellular Stock Up 1.6 %

The company has a market cap of $2.79 billion, a PE ratio of 539.60 and a beta of 1.23. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 0.66. The firm has a fifty day simple moving average of $25.68 and a 200 day simple moving average of $23.20.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Friday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). The firm had revenue of $1.46 billion for the quarter. Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Equities research analysts predict that Millicom International Cellular S.A. will post 2.33 EPS for the current year.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LB Partners LLC boosted its stake in shares of Millicom International Cellular by 0.4% during 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 in the last quarter. Renaissance Technologies LLC raised its position in Millicom International Cellular by 35.4% during the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after acquiring an additional 83,939 shares in the last quarter. Millennium Management LLC boosted its holdings 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. Morningstar Investment Services LLC raised its stake in shares of Millicom International Cellular by 105.6% in the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock valued at $4,474,000 after acquiring an additional 126,679 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Millicom International Cellular by 5.7% in the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock worth $2,554,000 after buying an additional 5,624 shares during the last quarter.

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.