Millicom International Cellular SA (NASDAQ:TIGO) Receives Average Rating of “Hold” from Brokerages

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have received an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $49.56.

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. JPMorgan Chase & Co. upped their target price on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Scotiabank raised their price target on Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a report on Friday, November 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday.

Millicom International Cellular Stock Performance

TIGO stock opened at $61.35 on Monday. Millicom International Cellular has a one year low of $25.50 and a one year high of $61.61. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 9.40 and a beta of 0.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a 50-day simple moving average of $54.02 and a two-hundred day simple moving average of $48.65.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TIGO. Smartleaf Asset Management LLC lifted its stake in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after buying an additional 314 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular in the 3rd quarter worth $26,000. Blue Trust Inc. raised its stake in Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in Millicom International Cellular during the 3rd quarter worth about $28,000. Finally, Spire Wealth Management purchased a new stake in Millicom International Cellular during the 4th quarter valued at about $29,000.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.