Scotiabank Raises Millicom International Cellular (NASDAQ:TIGO) Price Target to $51.20

Millicom International Cellular (NASDAQ:TIGO) had its price objective lifted by equities researchers at Scotiabank from $43.00 to $51.20 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the technology company’s stock. Scotiabank’s price target indicates a potential downside of 31.68% from the company’s current price.

Several other research firms also recently weighed in on TIGO. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Friday, March 6th. Wall Street Zen downgraded Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. Finally, UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.70.

Millicom International Cellular Stock Up 2.5%

TIGO opened at $74.94 on Monday. Millicom International Cellular has a twelve month low of $26.35 and a twelve month high of $77.33. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $68.28 and a 200 day moving average price of $56.98. The company has a market cap of $12.90 billion, a PE ratio of 9.55 and a beta of 0.90.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm posted $0.18 EPS. Millicom International Cellular’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EWA LLC grew its holdings in Millicom International Cellular by 2.5% in the 4th quarter. EWA LLC now owns 7,025 shares of the technology company’s stock valued at $389,000 after buying an additional 169 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Millicom International Cellular by 2.3% during the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after acquiring an additional 254 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after acquiring an additional 314 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Millicom International Cellular by 140.8% during the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Millicom International Cellular by 0.9% in the fourth quarter. KBC Group NV now owns 44,587 shares of the technology company’s stock valued at $2,472,000 after purchasing an additional 378 shares during the period.

Millicom International Cellular Company Profile

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.