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

Millicom International Cellular S.A. (NASDAQ:TIGO) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $30.66.

A number of equities research analysts have weighed in on the company. Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $30.00 to $37.30 in a research report on Friday, September 20th. JPMorgan Chase & Co. started coverage on Millicom International Cellular in a research report on Friday, September 6th. They set an “overweight” rating and a $35.00 price objective for the company. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $33.00 in a research report on Thursday, August 15th. Hsbc Global Res downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, HSBC downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.

Institutional Trading of Millicom International Cellular

Several large investors have recently added to or reduced their stakes in TIGO. Millennium Management LLC raised its stake 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 valued at $6,638,000 after purchasing an additional 157,205 shares during the period. Renaissance Technologies LLC increased its stake in shares of Millicom International Cellular by 35.4% in the second 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 last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Millicom International Cellular in the first quarter worth $1,216,000. Cubist Systematic Strategies LLC acquired a new position in shares of Millicom International Cellular in the second quarter worth $884,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Millicom International Cellular in the second quarter worth $429,000.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $27.17 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. The stock has a 50 day simple moving average of $26.55 and a 200-day simple moving average of $24.29. The company has a market cap of $2.76 billion, a PE ratio of 543.40 and a beta of 1.23. Millicom International Cellular has a 12-month low of $14.46 and a 12-month high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Friday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). The firm had revenue of $1.46 billion during the quarter. Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. During the same period last year, the business earned ($0.13) EPS. On average, equities research analysts forecast 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.