Millicom International Cellular (NASDAQ:TIGO) Upgraded to “Buy” at UBS Group

Millicom International Cellular (NASDAQ:TIGO) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a report released on Thursday,Finviz reports. The firm presently has a $70.00 price target on the technology company’s stock. UBS Group’s target price points to a potential upside of 33.08% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Scotiabank increased their price target on Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.97.

Millicom International Cellular Price Performance

TIGO opened at $52.60 on Thursday. Millicom International Cellular has a 1 year low of $25.50 and a 1 year high of $57.64. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 8.06 and a beta of 0.94. The firm’s fifty day moving average price is $52.68 and its two-hundred day moving average price is $47.53.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. The company’s quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts anticipate that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC bought a new position in Millicom International Cellular in the 3rd quarter worth about $4,010,000. Meritage Portfolio Management purchased a new position in shares of Millicom International Cellular during the second quarter worth about $5,321,000. Itau Unibanco Holding S.A. grew its holdings in shares of Millicom International Cellular by 52.7% during the second quarter. Itau Unibanco Holding S.A. now owns 703,267 shares of the technology company’s stock worth $26,351,000 after purchasing an additional 242,569 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Millicom International Cellular in the second quarter worth approximately $1,850,000. Finally, Franklin Resources Inc. purchased a new stake in Millicom International Cellular in the second quarter valued at approximately $1,293,000.

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.