Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $30.66 Average Price Target from Brokerages

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $30.66.

TIGO has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 price target on the stock. Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $30.00 to $37.30 in a research note on Friday, September 20th. Finally, UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $33.00 in a report on Thursday, August 15th.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its stake in shares of Millicom International Cellular by 138.9% during the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after purchasing an additional 157,205 shares during the period. Renaissance Technologies LLC grew its stake in Millicom International Cellular by 35.4% during the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after acquiring an additional 83,939 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Millicom International Cellular in the 1st quarter worth approximately $1,216,000. Charles Schwab Investment Management Inc. boosted its holdings in Millicom International Cellular by 95.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after purchasing an additional 52,638 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Millicom International Cellular in the second quarter worth $884,000.

Millicom International Cellular Trading Down 4.2 %

Millicom International Cellular stock opened at $26.35 on Wednesday. Millicom International Cellular has a 12-month low of $15.55 and a 12-month high of $28.75. The firm’s fifty day moving average is $27.17 and its 200 day moving average is $25.31. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a return on equity of 4.49% and a net margin of 2.70%. Millicom International Cellular’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. As a group, research analysts predict that Millicom International Cellular will post 2.33 EPS for the current fiscal year.

About Millicom International Cellular

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.