Millicom International Cellular SA (NASDAQ:TIGO) Given Average Rating of “Moderate Buy” by Brokerages

Millicom International Cellular SA (NASDAQ:TIGO) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $77.28.

TIGO has been the topic of a number of research reports. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank increased their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research note on Tuesday, May 26th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Friday, March 6th.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $87.56 on Thursday. The stock has a market cap of $14.80 billion, a price-to-earnings ratio of 11.90 and a beta of 0.91. Millicom International Cellular has a 52 week low of $35.88 and a 52 week high of $94.73. The company’s 50-day moving average price is $84.33 and its 200 day moving average price is $71.35. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. As a group, research analysts forecast that Millicom International Cellular will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds have recently modified their holdings of TIGO. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth about $50,664,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Millicom International Cellular by 46,519.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock worth $70,042,000 after acquiring an additional 1,260,666 shares during the period. Tredje AP fonden purchased a new position in shares of Millicom International Cellular during the 4th quarter worth about $60,459,000. State Street Corp lifted its holdings in shares of Millicom International Cellular by 129.2% during the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock worth $68,198,000 after acquiring an additional 1,026,063 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Millicom International Cellular during the 4th quarter worth about $55,440,000.

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.