Millicom International Cellular SA (NASDAQ:MIICF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “MILLICOM INTL is a leading international operator of cellular telephony services, primarily in emerging markets where the basic telephone service is often inadequate and where economic development and change are creating new demand for communication services. MIC has sought to establish an early presence in markets with little or no cellular service by applying for cellular licenses, primarily through joint ventures with prominent local business partners. “

Millicom International Cellular SA (MIICF) traded down 0.5531% during midday trading on Wednesday, reaching $59.3201. The company’s stock had a trading volume of 2,098 shares. The stock’s market cap is $5.96 billion. Millicom International Cellular SA has a 12-month low of $38.75 and a 12-month high of $60.65. The stock’s 50 day moving average is $57.26 and its 200 day moving average is $52.88.

Millicom International Cellular SA (NASDAQ:MIICF) last released its earnings results on Wednesday, April 26th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $1.04 billion for the quarter. Millicom International Cellular SA had a return on equity of 2.39% and a net margin of 1.82%. Analysts anticipate that Millicom International Cellular SA will post $1.89 earnings per share for the current year.

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About Millicom International Cellular SA

Millicom International Cellular SA is an international telecommunications and media company. The Company is engaged in providing digital lifestyle services in various markets, through mobile and fixed telephony, cable, broadband and television. Its segments include Latin America and Africa. It operates its mobile businesses in Central America (El Salvador) and in Africa (Chad, Ghana, Rwanda, Senegal and Tanzania).

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