Millicom International Cellular (NASDAQ:TIGO) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Millicom International Cellular (NASDAQ:TIGO) released its quarterly earnings data on Thursday. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21), Zacks reports. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s revenue for the quarter was down .8% on a year-over-year basis.

Millicom International Cellular Trading Down 0.6%

Shares of NASDAQ:TIGO traded down $0.28 on Friday, reaching $47.48. 582,359 shares of the company traded hands, compared to its average volume of 919,733. The stock has a market capitalization of $8.17 billion, a P/E ratio of 8.37 and a beta of 1.11. The business’s 50-day simple moving average is $47.73 and its 200 day simple moving average is $41.72. The company has a current ratio of 0.89, a quick ratio of 0.87 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.

Wall Street Analyst Weigh In

TIGO has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and upped their target price for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. Scotiabank raised their price target on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a report on Friday. Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.13.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after buying an additional 502 shares in the last quarter. State of Wyoming lifted its position in Millicom International Cellular by 123.4% during the 2nd quarter. State of Wyoming now owns 4,655 shares of the technology company’s stock valued at $174,000 after acquiring an additional 2,571 shares during the period. Orion Porfolio Solutions LLC bought a new stake in Millicom International Cellular during the second quarter worth about $201,000. Thrivent Financial for Lutherans purchased a new stake in Millicom International Cellular in the second quarter worth about $203,000. Finally, Osaic Holdings Inc. increased its stake in shares of Millicom International Cellular by 1,981.2% during the second quarter. Osaic Holdings Inc. now owns 5,973 shares of the technology company’s stock valued at $216,000 after purchasing an additional 5,686 shares in the last 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.