Hsbc Global Res Downgrades Millicom International Cellular (NASDAQ:TIGO) to Hold

Hsbc Global Res downgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

A number of other equities analysts have also recently issued reports on TIGO. Scotiabank boosted their price objective on shares of Millicom International Cellular from $26.80 to $30.00 and gave the company a sector outperform rating in a research report on Friday, June 21st. HSBC cut shares of Millicom International Cellular from a buy rating to a hold rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a research report on Tuesday, May 28th. They issued an overweight rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $27.00.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $24.95 on Tuesday. The company’s fifty day moving average is $23.37 and its 200 day moving average is $20.05. Millicom International Cellular has a 52 week low of $14.46 and a 52 week high of $25.60. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 1.74.

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

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently modified their holdings of TIGO. Tower Research Capital LLC TRC increased its position in shares of Millicom International Cellular by 1,431.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock valued at $25,000 after buying an additional 1,303 shares during the period. Principal Securities Inc. purchased a new position in shares of Millicom International Cellular during the fourth quarter valued at about $87,000. SG Americas Securities LLC boosted its stake in Millicom International Cellular by 13.1% during the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after acquiring an additional 920 shares in the last quarter. LWM Advisory Services LLC boosted its stake in Millicom International Cellular by 152.7% during the fourth quarter. LWM Advisory Services LLC now owns 29,422 shares of the technology company’s stock worth $530,000 after acquiring an additional 17,779 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Millicom International Cellular during the third quarter worth 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.