Millicom International Cellular (NASDAQ:TIGO) Raised to “Hold” at Zacks Research

Millicom International Cellular (NASDAQ:TIGO) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on TIGO. Wall Street Zen lowered Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Friday, March 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Scotiabank boosted their target price on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research report on Monday, March 30th. Finally, UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.64.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $81.26 on Monday. Millicom International Cellular has a fifty-two week low of $26.35 and a fifty-two week high of $82.10. The business has a 50-day simple moving average of $70.18 and a two-hundred day simple moving average of $58.08. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 10.35 and a beta of 0.87.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. Millicom International Cellular’s revenue was up 15.7% on a year-over-year basis. On average, analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC purchased a new stake in shares of Millicom International Cellular during the 3rd quarter valued at about $4,010,000. State of Alaska Department of Revenue bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at approximately $970,000. Plato Investment Management Ltd bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at approximately $875,000. JPMorgan Chase & Co. grew its stake in shares of Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after acquiring an additional 5,020,602 shares during the period. Finally, Marathon Asset Management Ltd bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at approximately $47,789,000.

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.