Millicom International Cellular S.A. (NASDAQ:TIGO) Given Average Rating of “Moderate Buy” by Analysts

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

Several research analysts have recently weighed in on the stock. 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 price target on the stock. Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $30.00 to $37.30 in a research report on Friday, September 20th. Finally, UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.00 to $33.00 in a research report on Thursday, August 15th.

Hedge Funds Weigh In On Millicom International Cellular

Several large investors have recently made changes to their positions in the business. LB Partners LLC grew its position in shares of Millicom International Cellular by 2.0% during the third quarter. LB Partners LLC now owns 511,923 shares of the technology company’s stock worth $13,883,000 after purchasing an additional 9,923 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Millicom International Cellular by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after buying an additional 83,939 shares in the last quarter. Millennium Management LLC grew its holdings in 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 buying an additional 157,205 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Millicom International Cellular by 95.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after buying an additional 52,638 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings 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 in the last quarter.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $26.03 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a one year low of $15.55 and a one year high of $28.75. The business has a fifty day moving average of $26.72 and a 200 day moving average of $25.78.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.38). The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. Millicom International Cellular’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) EPS. As a group, sell-side analysts anticipate that Millicom International Cellular will post 1.98 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.