Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $30.66 Average PT from Brokerages

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $30.66.

Several equities analysts have commented on TIGO shares. Hsbc Global Res downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $30.00 to $37.30 in a research report on Friday, September 20th. HSBC cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. started coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 price target for the company. Finally, UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $33.00 in a report on Thursday, August 15th.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its stake 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 buying an additional 780 shares during the period. Fifth Third Bancorp bought a new stake in shares of Millicom International Cellular in the second quarter valued at about $67,000. Summit Securities Group LLC bought a new stake in shares of Millicom International Cellular in the second quarter valued at about $98,000. SG Americas Securities LLC lifted its stake in shares of Millicom International Cellular by 13.1% in the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock valued at $160,000 after buying an additional 920 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of Millicom International Cellular in the second quarter valued at about $215,000.

Millicom International Cellular Trading Up 1.3 %

Millicom International Cellular stock opened at $27.17 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.66 and a quick ratio of 0.64. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 543.40 and a beta of 1.23. Millicom International Cellular has a one year low of $14.46 and a one year high of $28.75. The company’s fifty day moving average price is $26.55 and its two-hundred day moving average price is $24.29.

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 the consensus estimate of $0.51 by ($0.05). The business 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 last year, the firm earned ($0.13) earnings per share. On average, analysts forecast that Millicom International Cellular will post 2.33 earnings per share for the current fiscal year.

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.