Millicom International Cellular (NASDAQ:TIGO) Rating Lowered to Hold at HSBC

Millicom International Cellular (NASDAQ:TIGO) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Briefing.com reports.

Other equities analysts have also issued research reports about the company. Scotiabank boosted their target price on Millicom International Cellular from $26.80 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. assumed coverage on Millicom International Cellular in a research report on Tuesday, May 28th. They issued an “overweight” rating and a $30.00 target price for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Millicom International Cellular Trading Down 1.2 %

TIGO opened at $24.26 on Tuesday. The stock has a 50-day moving average price of $23.19 and a 200-day moving average price of $19.96. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.74. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $25.60.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $1.49 billion during the quarter. Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%. On average, equities research analysts anticipate that Millicom International Cellular will post 2.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Millicom International Cellular by 1,431.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,303 shares during the period. Principal Securities Inc. bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at about $87,000. SG Americas Securities LLC grew its stake in shares of Millicom International Cellular by 13.1% during the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock valued at $160,000 after purchasing an additional 920 shares during the period. LWM Advisory Services LLC grew its stake in shares of Millicom International Cellular by 152.7% during the 4th quarter. LWM Advisory Services LLC now owns 29,422 shares of the technology company’s stock valued at $530,000 after purchasing an additional 17,779 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Millicom International Cellular during the 3rd quarter valued at about $627,000.

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.