Millicom International Cellular S.A. (NASDAQ:TIGO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Millicom International Cellular S.A. (NASDAQ:TIGO) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $30.66.

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

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $27.84 on Tuesday. 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’s fifty day moving average price is $25.80 and its two-hundred day moving average price is $23.34. The firm has a market capitalization of $2.83 billion, a P/E ratio of 556.80 and a beta of 1.23. Millicom International Cellular has a 12 month low of $14.46 and a 12 month high of $27.84.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly 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). Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The business had revenue of $1.46 billion during the quarter. During the same period in the prior year, the company earned ($0.13) earnings per share. On average, research analysts anticipate that Millicom International Cellular will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently bought and sold shares of TIGO. Silver Lake Advisory LLC bought a new position in shares of Millicom International Cellular in the second quarter valued at approximately $260,000. Millennium Management LLC increased its position in shares of Millicom International Cellular by 138.9% during the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after purchasing an additional 157,205 shares during the period. AQR Capital Management LLC bought a new stake in shares of Millicom International Cellular in the 2nd quarter worth $215,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Millicom International Cellular in the second quarter valued at $884,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Millicom International Cellular by 11.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock valued at $477,000 after buying an additional 1,964 shares in 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.