Millicom International Cellular (NASDAQ:TIGO) Upgraded to “Strong-Buy” at Hsbc Global Res

Millicom International Cellular (NASDAQ:TIGO) was upgraded by stock analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

TIGO has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Wednesday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.26.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $27.67 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The business has a 50-day moving average of $25.40 and a 200-day moving average of $26.00. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 29.44 and a beta of 1.17. Millicom International Cellular has a fifty-two week low of $15.55 and a fifty-two week high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, sell-side analysts predict that Millicom International Cellular will post 2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds have recently bought and sold shares of TIGO. Blue Trust Inc. increased its stake in shares of Millicom International Cellular by 159.7% during the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,367 shares during the period. National Bank of Canada FI bought a new position in Millicom International Cellular during the 3rd quarter worth $76,000. Point72 Asset Management L.P. acquired a new stake in shares of Millicom International Cellular during the third quarter worth $87,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Millicom International Cellular in the third quarter valued at about $168,000. Finally, AQR Capital Management LLC bought a new position in Millicom International Cellular during the second quarter worth about $215,000.

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.