Analysts Set Millicom International Cellular SA (NASDAQ:TIGO) Target Price at $49.56

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $53.95.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Zacks Research cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price target for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC increased its stake in Millicom International Cellular by 0.3% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock valued at $3,656,000 after buying an additional 300 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after acquiring an additional 314 shares during the period. GAMMA Investing LLC increased its stake in shares of Millicom International Cellular by 140.8% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after acquiring an additional 335 shares during the period. KBC Group NV raised its holdings in Millicom International Cellular by 0.9% during the fourth quarter. KBC Group NV now owns 44,587 shares of the technology company’s stock worth $2,472,000 after purchasing an additional 378 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its position in Millicom International Cellular by 8.5% in the fourth quarter. Archford Capital Strategies LLC now owns 5,076 shares of the technology company’s stock worth $281,000 after purchasing an additional 398 shares during the period.

Millicom International Cellular Price Performance

TIGO stock opened at $60.83 on Monday. The firm has a market cap of $10.47 billion, a P/E ratio of 9.32 and a beta of 0.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 0.93. Millicom International Cellular has a 1 year low of $25.50 and a 1 year high of $62.14. The stock has a 50-day simple moving average of $54.41 and a 200-day simple moving average of $49.06.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. The business’s revenue was down .8% on a year-over-year basis. On average, equities analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

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.