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

Millicom International Cellular SA (NASDAQ:TIGO) has received an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $79.28.

TIGO has been the topic of several recent research reports. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. UBS Group lifted their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. JPMorgan Chase & Co. increased their price objective 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, Scotiabank lifted their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $94.54 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company has a 50-day moving average price of $89.85 and a 200 day moving average price of $77.56. Millicom International Cellular has a 12-month low of $39.01 and a 12-month high of $100.75. The stock has a market cap of $15.98 billion, a P/E ratio of 12.85 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Sell-side analysts anticipate that Millicom International Cellular will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 50,140 shares of company stock worth $4,425,461 in the last three months. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Millicom International Cellular by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after acquiring an additional 253,891 shares during the period. State Street Corp raised its holdings in shares of Millicom International Cellular by 14.9% in the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock valued at $126,364,000 after buying an additional 296,319 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular during the first quarter worth about $50,664,000. Boston Partners boosted its stake in shares of Millicom International Cellular by 2.7% during the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock worth $88,911,000 after buying an additional 41,765 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Millicom International Cellular by 128.2% during the third quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock worth $61,699,000 after buying an additional 714,158 shares during 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.