Millicom International Cellular (NASDAQ:TIGO) Price Target Cut to $33.00 by Analysts at JPMorgan Chase & Co.

Millicom International Cellular (NASDAQ:TIGO) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $36.00 to $33.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 23.23% from the stock’s current price.

Separately, Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $30.00 to $37.30 in a research report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.26.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $26.78 on Thursday. The stock has a 50 day moving average price of $25.34 and a 200 day moving average price of $25.91. 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.

Millicom International Cellular (NASDAQ:TIGO) last posted 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). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s revenue was up .5% on a year-over-year basis. On average, analysts forecast that Millicom International Cellular will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC boosted its position in Millicom International Cellular by 138.9% in 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 during the period. Renaissance Technologies LLC boosted its holdings in Millicom International Cellular by 35.4% in the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after purchasing an additional 83,939 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Millicom International Cellular by 95.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock worth $2,930,000 after purchasing an additional 52,638 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Millicom International Cellular during the 2nd quarter worth $884,000. Finally, Tidal Investments LLC purchased a new stake in Millicom International Cellular during the 3rd quarter worth about $602,000.

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.