Analysts Set Millicom International Cellular S.A. (NASDAQ:TIGO) Price Target at $24.70

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.70.

TIGO has been the subject of several research analyst reports. Morgan Stanley raised Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. New Street Research raised Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $24.00 in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised Millicom International Cellular from a “neutral” rating to an “overweight” rating in a research note on Thursday, March 28th. HSBC lifted their price target on Millicom International Cellular from $22.50 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Scotiabank lifted their price target on Millicom International Cellular from $18.00 to $26.10 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 28th.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in shares of Millicom International Cellular by 1,431.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,303 shares during the last quarter. Operose Advisors LLC purchased a new position in Millicom International Cellular during the 3rd quarter valued at about $29,000. Principal Securities Inc. purchased a new position in Millicom International Cellular during the 4th quarter valued at about $87,000. Counterpoint Mutual Funds LLC increased its holdings in Millicom International Cellular by 46.3% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 7,751 shares of the technology company’s stock valued at $120,000 after purchasing an additional 2,453 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Millicom International Cellular by 15.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,255 shares of the technology company’s stock valued at $236,000 after purchasing an additional 2,092 shares during the period.

Millicom International Cellular Trading Down 0.6 %

Shares of TIGO stock opened at $20.15 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Millicom International Cellular has a 52-week low of $14.46 and a 52-week high of $20.81. The business’s fifty day moving average is $19.01 and its 200 day moving average is $17.58.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Tuesday, February 27th. The technology company reported ($0.36) earnings per share (EPS) for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%. The business had revenue of $1.48 billion during the quarter.

Millicom International Cellular Company Profile

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.