Millicom International Cellular (NASDAQ:TIGO) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Several other equities analysts also recently weighed in on TIGO. Scotiabank raised their target price on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a “sector perform” rating in a report on Tuesday, August 19th. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their target price for the company from $39.50 to $49.00 in a report on Thursday, September 11th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Saturday, September 27th. Zacks Research upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.02.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $48.15 on Friday. The company has a 50-day simple moving average of $45.93 and a 200-day simple moving average of $38.59. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $8.29 billion, a PE ratio of 8.49 and a beta of 1.11. Millicom International Cellular has a 52-week low of $23.61 and a 52-week high of $50.78.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. Equities research analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors have recently added to or reduced their stakes in TIGO. USA Financial Formulas acquired a new position in Millicom International Cellular in the second quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its position in shares of Millicom International Cellular by 55.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after acquiring an additional 502 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Millicom International Cellular in the first quarter worth approximately $84,000. State of Wyoming boosted its position in shares of Millicom International Cellular by 123.4% in the second quarter. State of Wyoming now owns 4,655 shares of the technology company’s stock worth $174,000 after acquiring an additional 2,571 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Millicom International Cellular by 65.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock worth $190,000 after acquiring an additional 2,489 shares during the last quarter.

Millicom International Cellular Company Profile

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.