Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $24.70 Average PT from Analysts

Millicom International Cellular S.A. (NASDAQ:TIGO) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $24.70.

TIGO has been the topic of several recent analyst reports. HSBC raised their target price on Millicom International Cellular from $22.50 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley raised Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. raised Millicom International Cellular from a “neutral” rating to an “overweight” rating in a research note on Thursday, March 28th. Scotiabank raised their target price on Millicom International Cellular from $18.00 to $26.10 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 28th. Finally, New Street Research raised Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $24.00 in a research report on Thursday, February 29th.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Millicom International Cellular by 1,431.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,303 shares during the last quarter. Operose Advisors LLC purchased a new position in Millicom International Cellular in the 3rd quarter worth approximately $29,000. Principal Securities Inc. purchased a new position in Millicom International Cellular in the 4th quarter worth approximately $87,000. Counterpoint Mutual Funds LLC raised its holdings in Millicom International Cellular by 46.3% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 7,751 shares of the technology company’s stock worth $120,000 after acquiring an additional 2,453 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Millicom International Cellular by 15.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,255 shares of the technology company’s stock worth $236,000 after acquiring an additional 2,092 shares during the last quarter.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $20.15 on Monday. The stock’s 50-day moving average price is $19.01 and its 200-day moving average price is $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 quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.88.

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

Millicom International Cellular Company Profile

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.