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

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have received a consensus rating of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $59.3333.

Several equities analysts have recently weighed in on TIGO shares. Scotiabank lowered 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. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Morgan Stanley restated a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $70.00 in a research report on Thursday, January 15th. Finally, Zacks Research downgraded shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th.

Millicom International Cellular Trading Up 3.6%

Shares of TIGO opened at $74.55 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $12.83 billion, a P/E ratio of 9.50 and a beta of 0.90. The stock’s fifty day simple moving average is $66.01 and its 200 day simple moving average is $55.82. Millicom International Cellular has a twelve month low of $26.35 and a twelve month high of $75.25.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. On average, equities research analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Trading of Millicom International Cellular

Institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC acquired a new stake in Millicom International Cellular in the 4th quarter valued at $225,000. Hsbc Holdings PLC lifted its stake in shares of Millicom International Cellular by 455.9% during the fourth quarter. Hsbc Holdings PLC now owns 54,576 shares of the technology company’s stock worth $3,038,000 after purchasing an additional 44,758 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Millicom International Cellular by 14.8% during the fourth quarter. Invesco Ltd. now owns 181,118 shares of the technology company’s stock worth $10,041,000 after purchasing an additional 23,336 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Millicom International Cellular in the fourth quarter worth about $265,000. Finally, Vident Advisory LLC boosted its position in shares of Millicom International Cellular by 2.3% in the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after buying an additional 254 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.