UBS Group Issues Positive Forecast for Millicom International Cellular (NASDAQ:TIGO) Stock Price

Millicom International Cellular (NASDAQ:TIGO) had its price target increased by UBS Group from $90.00 to $100.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank upped 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. Finally, Zacks Research lowered shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.28.

Millicom International Cellular Price Performance

Shares of TIGO opened at $94.70 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The stock’s 50 day moving average is $87.53 and its two-hundred day moving average is $75.67. Millicom International Cellular has a twelve month low of $38.50 and a twelve month high of $100.08. The firm has a market capitalization of $16.00 billion, a PE ratio of 12.87 and a beta of 0.92.

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

Insiders Place Their Bets

In related news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 50,140 shares of company stock worth $4,425,461. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TIGO. Goldman Sachs Group Inc. bought a new stake in Millicom International Cellular in the first quarter worth $50,664,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Millicom International Cellular by 46,519.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock worth $70,042,000 after purchasing an additional 1,260,666 shares during the period. Tredje AP fonden bought a new stake in Millicom International Cellular during the 4th quarter valued at approximately $60,459,000. State Street Corp boosted its stake in 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 valued at $68,198,000 after purchasing an additional 1,026,063 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Millicom International Cellular in the 4th quarter valued at approximately $55,440,000.

About Millicom International Cellular

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.