Millicom International Cellular (NASDAQ:TIGO) Lowered to Sector Underperform Rating by Scotiabank

Scotiabank lowered shares of Millicom International Cellular (NASDAQ:TIGO) from a sector perform rating to a sector underperform rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has $43.00 price objective on the technology company’s stock, down from their previous price objective of $46.80.

Several other equities research analysts also recently weighed in on TIGO. Zacks Research downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Millicom International Cellular currently has an average rating of “Hold” and an average price target of $53.00.

Millicom International Cellular Trading Up 2.5%

NASDAQ TIGO traded up $1.59 during trading on Wednesday, hitting $66.16. The company had a trading volume of 71,379 shares, compared to its average volume of 1,193,947. The company’s fifty day moving average is $56.62 and its 200-day moving average is $50.73. Millicom International Cellular has a one year low of $25.50 and a one year high of $68.93. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 10.13 and a beta of 0.93.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after buying an additional 314 shares in the last quarter. Spire Wealth Management bought a new position in Millicom International Cellular during the fourth quarter valued at approximately $29,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular during the 3rd quarter valued at approximately $26,000.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.