Millicom International Cellular (NASDAQ:TIGO) Announces Quarterly Earnings Results

Millicom International Cellular (NASDAQ:TIGO) released its quarterly earnings results on Thursday. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38), Briefing.com reports. Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up .5% on a year-over-year basis.

Millicom International Cellular Stock Performance

Millicom International Cellular stock traded up $0.55 on Friday, reaching $26.96. 120,118 shares of the stock were exchanged, compared to its average volume of 96,898. The firm has a fifty day moving average price of $27.11 and a two-hundred day moving average price of $25.14. Millicom International Cellular has a twelve month low of $15.55 and a twelve month high of $28.75. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.72.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. assumed coverage on shares of Millicom International Cellular in a research note on Friday, September 6th. They set an “overweight” rating and a $35.00 target price for the company. Finally, Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $30.00 to $37.30 in a research note on Friday, September 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Moderate Buy” and a consensus price target of $30.66.

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.