Millicom International Cellular (NASDAQ:TIGO – Get Free Report) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $34.00 price objective on the technology company’s stock. HSBC’s target price would indicate a potential upside of 22.88% from the company’s previous close.
Separately, JPMorgan Chase & Co. dropped their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Buy” and a consensus target price of $32.26.
Get Our Latest Analysis on Millicom International Cellular
Millicom International Cellular Trading Down 0.4 %
Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last announced its earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.38). The firm 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%. Millicom International Cellular’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. Sell-side analysts expect that Millicom International Cellular will post 2.05 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in TIGO. Blue Trust Inc. raised its holdings in shares of Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after buying an additional 1,367 shares in the last quarter. National Bank of Canada FI acquired a new stake in Millicom International Cellular during the 3rd quarter worth approximately $76,000. Point72 Asset Management L.P. bought a new position in shares of Millicom International Cellular during the third quarter valued at $87,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Millicom International Cellular during the third quarter worth $168,000. Finally, State Street Corp acquired a new stake in Millicom International Cellular in the third quarter valued at $231,000.
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.
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