Millicom International Cellular (NASDAQ:TIGO) Upgraded by Zacks Research to Hold Rating

Millicom International Cellular (NASDAQ:TIGO) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

TIGO has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Weiss Ratings restated a “buy (a-)” rating on shares of Millicom International Cellular in a research report on Friday, August 7th. Scotiabank boosted their price target on Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research note on Friday, August 7th. UBS Group raised their price objective on Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.82.

Millicom International Cellular Stock Up 1.5%

Millicom International Cellular stock opened at $96.47 on Tuesday. The company’s 50-day moving average price is $92.68 and its two-hundred day moving average price is $81.41. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07. The stock has a market cap of $16.30 billion, a P/E ratio of 24.36 and a beta of 0.91. Millicom International Cellular has a twelve month low of $43.38 and a twelve month high of $107.13.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 18.39% and a net margin of 9.19%. As a group, analysts expect that Millicom International Cellular will post 1.78 EPS for the current year.

Insider Buying and Selling at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the sale, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 50,140 shares of company stock worth $4,425,461. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in Millicom International Cellular by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after purchasing an additional 253,891 shares during the last quarter. State Street Corp increased its holdings in shares of Millicom International Cellular by 14.9% during the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock worth $126,364,000 after buying an additional 296,319 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular in the 1st quarter valued at $50,664,000. Boston Partners boosted its holdings in shares of Millicom International Cellular by 2.7% during the 4th quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock valued at $88,911,000 after acquiring an additional 41,765 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Millicom International Cellular by 128.2% during the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock valued at $61,699,000 after acquiring an additional 714,158 shares in the last quarter.

About Millicom International Cellular

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.