Millicom International Cellular SA (NASDAQ:TIGO) Receives Consensus Rating of “Moderate Buy” from Analysts

Millicom International Cellular SA (NASDAQ:TIGO) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $42.1333.

TIGO has been the subject of several research reports. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and increased their price objective for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. 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. Zacks Research downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. Finally, Scotiabank upped their price target on Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a report on Friday, November 7th.

Millicom International Cellular Trading Up 3.6%

Shares of NASDAQ:TIGO opened at $50.57 on Wednesday. Millicom International Cellular has a 52-week low of $23.61 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market cap of $8.70 billion, a P/E ratio of 8.92 and a beta of 1.11. The stock’s 50-day moving average is $47.75 and its 200-day moving average is $42.09.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.21). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The business’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors have recently bought and sold shares of the business. Dodge & Cox increased its holdings in Millicom International Cellular by 1.5% in the 2nd quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock valued at $331,090,000 after buying an additional 134,400 shares during the period. Brandes Investment Partners LP boosted its position in shares of Millicom International Cellular by 2.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company’s stock valued at $248,228,000 after acquiring an additional 161,861 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Millicom International Cellular by 348.9% in the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after acquiring an additional 5,020,602 shares during the period. Price T Rowe Associates Inc. MD raised its position in Millicom International Cellular by 5,033.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company’s stock worth $168,874,000 after purchasing an additional 5,470,214 shares in the last quarter. Finally, Boston Partners lifted its stake in Millicom International Cellular by 22.1% during the second quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock worth $110,779,000 after purchasing an additional 535,399 shares during the period.

About Millicom International Cellular

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.