Millicom International Cellular (NASDAQ:TIGO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a buy rating to a strong-buy rating in a report published on Saturday morning.

Several other equities analysts also recently issued reports on the company. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $39.50 to $49.00 in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Finally, Scotiabank upped their target price on Millicom International Cellular from $37.00 to $46.10 and gave the company a “sector perform” rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.02.

Millicom International Cellular Stock Performance

TIGO opened at $47.49 on Friday. The company has a market cap of $8.17 billion, a P/E ratio of 8.38 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average price is $46.87 and its 200-day moving average price is $39.44. Millicom International Cellular has a 52-week low of $23.61 and a 52-week high of $50.78.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. As a group, equities analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. USA Financial Formulas purchased a new position in Millicom International Cellular during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after purchasing an additional 502 shares during the period. Carolina Wealth Advisors LLC acquired a new stake in shares of Millicom International Cellular during the 3rd quarter worth approximately $59,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Millicom International Cellular during the 1st quarter valued at approximately $84,000. Finally, State of Wyoming lifted its stake in shares of Millicom International Cellular by 123.4% in the 2nd quarter. State of Wyoming now owns 4,655 shares of the technology company’s stock valued at $174,000 after purchasing an additional 2,571 shares during the period.

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.