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

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $79.28.

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group increased their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Finally, Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th.

Millicom International Cellular Stock Performance

TIGO opened at $94.54 on Monday. The firm has a market cap of $15.98 billion, a P/E ratio of 12.85 and a beta of 0.92. Millicom International Cellular has a 52-week low of $39.01 and a 52-week high of $100.75. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The business’s fifty day moving average is $89.85 and its 200-day moving average is $77.70.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts expect that Millicom International Cellular will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the sale, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 50,140 shares of company stock valued at $4,425,461. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Millicom International Cellular

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of Millicom International Cellular by 48.1% during the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after acquiring an additional 14,990 shares during the period. AQR Capital Management LLC raised its stake in Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after acquiring an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Millicom International Cellular during the first quarter valued at about $2,188,000. Goldman Sachs Group Inc. purchased a new stake in Millicom International Cellular during the first quarter valued at about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Millicom International Cellular during the first quarter worth about $8,504,000.

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.