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

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Millicom International Cellular SA (NASDAQ:TIGO) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus price objective of $82.00 for the company, according to Zacks. Zacks has also given Millicom International Cellular an industry rank of 236 out of 256 based on the ratings given to related companies.

TIGO has been the subject of a number of research reports. TheStreet lowered Millicom International Cellular from a “c” rating to a “d+” rating in a research note on Monday, February 11th. Barclays raised Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research note on Friday, April 26th.

TIGO stock traded down $0.51 on Friday, reaching $57.87. The company’s stock had a trading volume of 2,030 shares, compared to its average volume of 8,792. Millicom International Cellular has a 52 week low of $53.26 and a 52 week high of $74.71. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 199.55 and a beta of 0.83. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.77 and a quick ratio of 0.76.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.34). The firm had revenue of $1.07 billion for the quarter. Millicom International Cellular had a negative net margin of 0.25% and a negative return on equity of 0.24%. On average, equities analysts anticipate that Millicom International Cellular will post 1.32 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of TIGO. Wells Fargo & Company MN bought a new position in Millicom International Cellular during the 1st quarter valued at $71,000. Morgan Stanley bought a new position in Millicom International Cellular during the 1st quarter valued at $203,000. Coastal Investment Advisors Inc. bought a new position in Millicom International Cellular during the 1st quarter valued at $220,000. Patriot Investment Management Inc. bought a new position in Millicom International Cellular during the 1st quarter valued at $295,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Millicom International Cellular during the 1st quarter valued at $1,021,000. 3.19% of the stock is owned by hedge funds and other institutional investors.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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