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

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $53.95.

Several equities analysts have recently issued reports on the company. Zacks Research cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after acquiring an additional 5,020,602 shares in the last quarter. Perpetual Ltd boosted its position in shares of Millicom International Cellular by 5,283.2% in the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock valued at $132,610,000 after purchasing an additional 2,681,221 shares during the period. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular in the 1st quarter worth about $50,664,000. State Street Corp raised its holdings in Millicom International Cellular by 129.2% during the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock worth $68,198,000 after buying an additional 1,026,063 shares during the period. Finally, Marathon Asset Management Ltd acquired a new stake in Millicom International Cellular during the 3rd quarter worth about $47,789,000.

Millicom International Cellular Stock Down 1.9%

TIGO stock opened at $61.03 on Monday. The firm’s 50-day moving average is $54.78 and its two-hundred day moving average is $49.31. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94. Millicom International Cellular has a 52 week low of $25.50 and a 52 week high of $62.74. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. The company’s revenue was down .8% compared to the same quarter last year. On average, analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Company Profile

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.