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

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $77.28.

TIGO has been the topic of a number of analyst reports. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Friday, March 6th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Scotiabank boosted their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $92.26 on Thursday. The stock has a market cap of $15.59 billion, a PE ratio of 12.54 and a beta of 0.91. The company’s fifty day moving average is $84.92 and its 200 day moving average is $72.19. Millicom International Cellular has a 52 week low of $36.36 and a 52 week high of $94.73. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Research analysts anticipate that Millicom International Cellular will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, the insider owned 165,344 shares of the company’s stock, valued at $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of Millicom International Cellular

Large investors have recently modified their holdings of the company. CTC Alternative Strategies Ltd. purchased a new position in shares of Millicom International Cellular during the 1st quarter worth $600,000. Bank of America Corp DE increased its stake in shares of Millicom International Cellular by 22.0% in the first quarter. Bank of America Corp DE now owns 243,778 shares of the technology company’s stock worth $18,269,000 after purchasing an additional 43,947 shares in the last quarter. Altshuler Shaham Ltd increased its stake in shares of Millicom International Cellular by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares in the last quarter. Amundi increased its stake in shares of Millicom International Cellular by 120.8% in the first quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after purchasing an additional 289,913 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Millicom International Cellular by 44.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the technology company’s stock worth $267,000 after purchasing an additional 1,098 shares in the last quarter.

Millicom International Cellular Company Profile

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.