Millicom International Cellular (NASDAQ:TIGO) Rating Lowered to Buy at Wall Street Zen

Millicom International Cellular (NASDAQ:TIGO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other brokerages also recently commented on TIGO. Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Scotiabank downgraded Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the company from $46.80 to $43.00 in a research note on Wednesday, February 11th. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $70.00 in a research report on Thursday, January 15th. Finally, 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 note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Hold” and an average price target of $59.33.

Millicom International Cellular Trading Up 2.7%

Shares of TIGO stock opened at $75.33 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 9.60 and a beta of 0.90. Millicom International Cellular has a 52-week low of $26.35 and a 52-week high of $77.33. The company has a 50-day simple moving average of $67.66 and a two-hundred day simple moving average of $56.48.

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

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake 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 buying an additional 314 shares in the last quarter. Allworth Financial LP boosted its holdings in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after buying an additional 418 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular in the 3rd quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new position in Millicom International Cellular in the 4th quarter valued at approximately $26,000. Finally, Blue Trust Inc. raised its holdings in Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after acquiring an additional 427 shares during the period.

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.