Millicom International Cellular SA (NASDAQ:TIGO) Receives Average Rating of “Moderate Buy” from Analysts

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $77.28.

Several research analysts have recently issued reports on TIGO shares. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Morgan Stanley restated a “positive” rating and issued a $55.00 target price on shares of Millicom International Cellular in a report on Thursday, February 26th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Friday, March 6th. JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $87.56 on Thursday. The company’s 50 day simple moving average is $84.33 and its 200-day simple moving average is $71.35. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of 11.90 and a beta of 0.91. Millicom International Cellular has a 1 year low of $35.88 and a 1 year high of $94.73. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, equities research analysts expect that Millicom International Cellular will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the sale, the insider owned 165,344 shares in the company, valued at $14,634,597.44. This represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Millicom International Cellular

Several institutional investors and hedge funds have recently bought and sold shares of the business. CTC Alternative Strategies Ltd. purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at about $600,000. Bank of America Corp DE increased its holdings in shares of Millicom International Cellular by 22.0% in the 1st quarter. Bank of America Corp DE now owns 243,778 shares of the technology company’s stock valued at $18,269,000 after purchasing an additional 43,947 shares in the last quarter. Altshuler Shaham Ltd increased its holdings in shares of Millicom International Cellular by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock valued at $47,000 after purchasing an additional 170 shares in the last quarter. Amundi increased its holdings in shares of Millicom International Cellular by 120.8% in the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock valued at $39,713,000 after purchasing an additional 289,913 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Millicom International Cellular by 44.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the technology company’s stock valued at $267,000 after purchasing an additional 1,098 shares in the last quarter.

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.