Millicom International Cellular (NASDAQ:TIGO) Stock Rating Upgraded by UBS Group

Millicom International Cellular (NASDAQ:TIGO) was upgraded by investment analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

TIGO has been the subject of several other research reports. Weiss Ratings cut Millicom International Cellular from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Monday. Scotiabank boosted their price target on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a report on Friday, August 7th. JPMorgan Chase & Co. cut Millicom International Cellular from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $100.00 to $105.00 in a report on Tuesday, August 18th. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 4th. Finally, Royal Bank Of Canada set a $105.00 price objective on shares of Millicom International Cellular in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.68.

Millicom International Cellular Trading Up 2.3%

Shares of TIGO stock opened at $88.75 on Tuesday. Millicom International Cellular has a 52-week low of $48.58 and a 52-week high of $107.13. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.51 and a current ratio of 0.55. The firm has a market capitalization of $15.00 billion, a PE ratio of 26.26 and a beta of 1.00. The stock has a fifty day simple moving average of $87.13 and a two-hundred day simple moving average of $83.57.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 5th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.40). Millicom International Cellular had a net margin of 7.02% and a return on equity of 21.45%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the business earned $1.17 earnings per share. Millicom International Cellular’s revenue was up 60.8% compared to the same quarter last year. On average, analysts predict that Millicom International Cellular will post 4.14 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Large investors have recently added to or reduced their stakes in the company. Independent Advisor Alliance boosted its position in shares of Millicom International Cellular by 25.4% during the 3rd quarter. Independent Advisor Alliance now owns 8,622 shares of the technology company’s stock valued at $751,000 after acquiring an additional 1,748 shares during the last quarter. OneAscent Financial Services LLC increased its position in Millicom International Cellular by 39.1% in the third quarter. OneAscent Financial Services LLC now owns 8,537 shares of the technology company’s stock worth $744,000 after purchasing an additional 2,399 shares during the last quarter. OneAscent Family Office LLC increased its position in Millicom International Cellular by 6.5% in the third quarter. OneAscent Family Office LLC now owns 4,000 shares of the technology company’s stock worth $349,000 after purchasing an additional 243 shares during the last quarter. Voya Investment Management LLC increased its position in Millicom International Cellular by 1.7% in the third quarter. Voya Investment Management LLC now owns 24,064 shares of the technology company’s stock worth $2,097,000 after purchasing an additional 399 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Millicom International Cellular by 1.0% during the third quarter. Public Sector Pension Investment Board now owns 51,800 shares of the technology company’s stock valued at $4,106,000 after purchasing an additional 500 shares in the last quarter.

Millicom International Cellular Company Profile

Millicom International Cellular is a telecommunications company that serves consumers, households and businesses in Latin America under the Tigo brand. Its services include mobile voice and data, fixed broadband and pay television. The company also provides digital and enterprise services, including connectivity and related technology solutions for businesses. Its operations span multiple Latin American markets, with offerings tailored to local consumer and business needs. Founded in 1990, Millicom has developed from an international mobile operator into a provider of integrated telecommunications and digital services.