Analysts Expect Millicom International Cellular SA (NASDAQ:TIGO) to Post ($0.16) EPS

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Shares of Millicom International Cellular SA (NASDAQ:TIGO) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price target of $76.00 for the company and are forecasting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also assigned Millicom International Cellular an industry rank of 163 out of 255 based on the ratings given to its competitors.

A number of research firms recently weighed in on TIGO. Zacks Investment Research lowered shares of Millicom International Cellular from a “hold” rating to a “sell” rating in a report on Saturday, September 7th. Bank of America lowered their price target on shares of Millicom International Cellular from $83.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating in a report on Thursday, September 19th.

TIGO traded up $0.17 during trading hours on Tuesday, reaching $48.96. 17,985 shares of the stock traded hands, compared to its average volume of 25,764. The firm’s fifty day simple moving average is $49.11 and its two-hundred day simple moving average is $53.83. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 168.83 and a beta of 0.67. Millicom International Cellular has a fifty-two week low of $44.02 and a fifty-two week high of $74.71. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.79 and a quick ratio of 0.77.

A number of hedge funds have recently made changes to their positions in the business. Resources Investment Advisors LLC. acquired a new position in Millicom International Cellular during the 2nd quarter worth $28,000. Gabelli Funds LLC grew its holdings in Millicom International Cellular by 0.9% during the 2nd quarter. Gabelli Funds LLC now owns 104,791 shares of the company’s stock worth $5,837,000 after acquiring an additional 900 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Millicom International Cellular by 195.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,425 shares of the company’s stock worth $191,000 after acquiring an additional 2,266 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Millicom International Cellular by 20.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,195 shares of the company’s stock worth $1,125,000 after acquiring an additional 3,407 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Millicom International Cellular by 35.4% during the 2nd quarter. Royal Bank of Canada now owns 24,500 shares of the company’s stock worth $1,365,000 after acquiring an additional 6,400 shares in the last quarter. 6.91% of the stock is owned by 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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