Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $30.66 Average Target Price from Analysts

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $30.66.

TIGO has been the subject of a number of research analyst reports. Scotiabank upgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $30.00 to $37.30 in a research note on Friday, September 20th. JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a research note on Friday, September 6th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their target price for the company from $25.00 to $33.00 in a research note on Thursday, August 15th.

Institutional Trading of Millicom International Cellular

A number of hedge funds and other institutional investors have recently modified their holdings of TIGO. LB Partners LLC grew its holdings in Millicom International Cellular by 2.0% during the 3rd quarter. LB Partners LLC now owns 511,923 shares of the technology company’s stock worth $13,883,000 after acquiring an additional 9,923 shares during the period. Renaissance Technologies LLC grew its holdings in Millicom International Cellular by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after acquiring an additional 83,939 shares during the period. Millennium Management LLC grew its holdings in Millicom International Cellular by 138.9% during the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after acquiring an additional 157,205 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Millicom International Cellular by 95.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock worth $2,930,000 after acquiring an additional 52,638 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Millicom International Cellular by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock worth $2,554,000 after acquiring an additional 5,624 shares during the period.

Millicom International Cellular Trading Up 2.2 %

Shares of TIGO opened at $25.64 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular has a 12 month low of $15.55 and a 12 month high of $28.75. The company has a 50-day moving average price of $26.83 and a two-hundred day moving average price of $25.74.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. On average, research analysts predict that Millicom International Cellular will post 2.33 EPS for the current year.

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.