Millicom International Cellular (NASDAQ:TIGO) Raised to Strong-Buy at Wall Street Zen

Millicom International Cellular (NASDAQ:TIGO) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

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

Millicom International Cellular Trading Up 0.6%

NASDAQ TIGO opened at $47.62 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 52 week low of $23.61 and a 52 week high of $50.78. The stock has a market capitalization of $8.20 billion, a PE ratio of 8.40 and a beta of 1.11. The firm has a 50 day moving average of $46.73 and a two-hundred day moving average of $39.32.

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

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas purchased a new stake in Millicom International Cellular in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC raised its position in Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after purchasing an additional 502 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in Millicom International Cellular in the 3rd quarter valued at $59,000. Caitong International Asset Management Co. Ltd purchased a new stake in Millicom International Cellular in the 1st quarter valued at $84,000. Finally, State of Wyoming raised its position in 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 last quarter.

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.