Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High After Analyst Upgrade

Millicom International Cellular SA (NASDAQ:TIGO) shares reached a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $55.00 to $63.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Millicom International Cellular traded as high as $53.62 and last traded at $53.53, with a volume of 985188 shares traded. The stock had previously closed at $50.33.

Several other equities research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Scotiabank lifted their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Zacks Research cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Finally, UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $39.50 to $49.00 in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TIGO. Smartleaf Asset Management LLC lifted its position in shares of Millicom International Cellular by 155.4% in the 3rd 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 in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Millicom International Cellular during the 3rd quarter valued at $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Millicom International Cellular in the third quarter valued at $28,000. USA Financial Formulas acquired a new stake in shares of Millicom International Cellular in the second quarter worth $30,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Millicom International Cellular in the third quarter worth $32,000.

Millicom International Cellular Stock Up 4.8%

The firm has a market cap of $9.65 billion, a PE ratio of 9.89 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. The business has a fifty day moving average price of $48.19 and a two-hundred day moving average price of $42.73.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

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.