Millicom International Cellular (NASDAQ:TIGO) Stock Price Expected to Rise, UBS Group Analyst Says

Millicom International Cellular (NASDAQ:TIGO) had its price target lifted by equities research analysts at UBS Group from $90.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective indicates a potential upside of 5.60% from the company’s current price.

A number of other research analysts also recently issued reports on TIGO. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Zacks Research lowered shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday. JPMorgan Chase & Co. raised 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. Scotiabank lifted 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 report on Wednesday, May 27th. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.28.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $94.70 on Tuesday. The stock has a 50-day moving average of $87.53 and a two-hundred day moving average of $75.67. Millicom International Cellular has a one year low of $38.50 and a one year high of $100.08. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a market cap of $16.00 billion, a P/E ratio of 12.87 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts predict that Millicom International Cellular will post 1.78 EPS for the current year.

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 50,140 shares of company stock worth $4,425,461 in the last three months. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP raised 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. Altshuler Shaham Ltd acquired a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $26,000. Blue Trust Inc. grew its position 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 valued at $27,000 after purchasing an additional 427 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Millicom International Cellular by 896.7% in the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Millicom International Cellular in the fourth quarter valued at approximately $29,000.

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.