Millicom International Cellular S.A. (NASDAQ:TIGO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Millicom International Cellular S.A. (NASDAQ:TIGO) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.20.

Several analysts have issued reports on TIGO shares. Scotiabank upped their price objective on Millicom International Cellular from $18.00 to $26.10 and gave the company a “sector outperform” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. raised Millicom International Cellular from a “neutral” rating to an “overweight” rating in a report on Thursday. Morgan Stanley raised Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. New Street Research raised Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $24.00 in a report on Thursday, February 29th. Finally, HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $22.50 price target for the company in a report on Wednesday, February 28th.

Millicom International Cellular Stock Up 1.1 %

Shares of NASDAQ TIGO opened at $19.80 on Thursday. The stock has a 50 day moving average price of $17.54 and a 200 day moving average price of $16.89. Millicom International Cellular has a 52 week low of $14.46 and a 52 week high of $20.12. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.82 and a quick ratio of 0.80.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.36) EPS for the quarter. The company had revenue of $1.48 billion for the quarter. Millicom International Cellular had a negative net margin of 1.45% and a negative return on equity of 2.41%.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIGO. Advisor Group Holdings Inc. increased its stake in shares of Millicom International Cellular by 261.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company’s stock valued at $28,000 after purchasing an additional 816 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Millicom International Cellular by 2,212.3% in the 1st quarter. JPMorgan Chase & Co. now owns 27,031 shares of the technology company’s stock valued at $681,000 after purchasing an additional 25,862 shares during the period. Bridgewater Associates LP lifted its stake in shares of Millicom International Cellular by 206.4% in the 1st quarter. Bridgewater Associates LP now owns 55,955 shares of the technology company’s stock valued at $1,411,000 after purchasing an additional 37,690 shares during the period. Parkwood LLC raised its stake in Millicom International Cellular by 25.0% during the 1st quarter. Parkwood LLC now owns 211,781 shares of the technology company’s stock worth $5,339,000 after buying an additional 42,383 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Millicom International Cellular by 315.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,268 shares of the technology company’s stock worth $2,704,000 after purchasing an additional 81,450 shares in the last quarter.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.