Millicom International Cellular (NASDAQ:TIGO) Issues Earnings Results

Millicom International Cellular (NASDAQ:TIGO) announced its quarterly earnings results on Thursday. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38), Briefing.com reports. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share.

Millicom International Cellular Trading Up 2.3 %

Shares of TIGO traded up $0.60 during midday trading on Friday, hitting $27.01. 173,132 shares of the stock traded hands, compared to its average volume of 96,919. The business’s 50 day moving average price is $27.11 and its two-hundred day moving average price is $25.14. Millicom International Cellular has a 1-year low of $15.55 and a 1-year high of $28.75. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 0.66.

Analyst Ratings Changes

TIGO has been the subject of several recent research reports. UBS Group raised shares of 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. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $30.00 to $37.30 in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.66.

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.