Zacks Investment Research downgraded shares of Millicom International Cellular SA (NASDAQ:MIICF) from a hold rating to a strong sell rating in a research report sent to investors on Saturday morning.

According to Zacks, “MILLICOM INTL is a leading international operator of cellular telephony services, primarily in emerging markets where the basic telephone service is often inadequate and where economic development and change are creating new demand for communication services. MIC has sought to establish an early presence in markets with little or no cellular service by applying for cellular licenses, primarily through joint ventures with prominent local business partners. “

Millicom International Cellular SA (NASDAQ MIICF) traded down 0.17% during trading on Friday, hitting $64.00. The stock had a trading volume of 4,146 shares. Millicom International Cellular SA has a one year low of $38.75 and a one year high of $65.10. The stock has a 50 day moving average of $59.86 and a 200 day moving average of $55.71. The firm’s market capitalization is $6.44 billion.

Millicom International Cellular SA (NASDAQ:MIICF) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.21. The company had revenue of $1.05 billion during the quarter. Millicom International Cellular SA had a net margin of 1.82% and a return on equity of 2.39%. Equities research analysts expect that Millicom International Cellular SA will post $1.26 earnings per share for the current fiscal year.

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Millicom International Cellular SA Company Profile

Millicom International Cellular SA is an international telecommunications and media company. The Company is engaged in providing digital lifestyle services in various markets, through mobile and fixed telephony, cable, broadband and television. Its segments include Latin America and Africa. It operates its mobile businesses in Central America (El Salvador) and in Africa (Chad, Ghana, Rwanda, Senegal and Tanzania).

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