Analysts Set Millicom International Cellular S.A. (NASDAQ:TIGO) Price Target at $24.70

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.70.

A number of research analysts have issued reports on TIGO shares. HSBC lifted their target price on Millicom International Cellular from $22.50 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of Millicom International Cellular from a “neutral” rating to an “overweight” rating in a research report on Thursday, March 28th. Scotiabank increased their price target on Millicom International Cellular from $18.00 to $26.10 and gave the company a “sector outperform” rating in a research note on Wednesday, February 28th. Morgan Stanley upgraded Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 5th. Finally, New Street Research upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $24.00 in a research report on Thursday, February 29th.

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brandes Investment Partners LP raised its position in shares of Millicom International Cellular by 28.7% during the third quarter. Brandes Investment Partners LP now owns 4,394,992 shares of the technology company’s stock worth $67,903,000 after acquiring an additional 981,159 shares during the last quarter. LB Partners LLC bought a new position in Millicom International Cellular during the 4th quarter worth approximately $9,000,000. Morningstar Investment Services LLC lifted its position in shares of Millicom International Cellular by 105.6% in the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after purchasing an additional 126,679 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Millicom International Cellular in the 3rd quarter valued at $627,000. Finally, Optiver Holding B.V. raised its stake in Millicom International Cellular by 216.0% during the fourth quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock worth $1,019,000 after buying an additional 38,697 shares during the last quarter.

Millicom International Cellular Stock Down 0.6 %

Shares of NASDAQ:TIGO opened at $20.15 on Monday. The firm has a 50 day moving average of $19.01 and a 200-day moving average of $17.60. Millicom International Cellular has a 12 month low of $14.46 and a 12 month high of $20.81. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 0.82.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Tuesday, February 27th. The technology company reported ($0.36) earnings per share for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%. The business had revenue of $1.48 billion for the quarter.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.