Millicom International Cellular SA (NASDAQ:TIGO) Given Consensus Recommendation of “Hold” by Analysts

Millicom International Cellular SA (NASDAQ:TIGO) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $79.28.

A number of equities analysts recently commented on TIGO shares. JPMorgan Chase & Co. increased their price target on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. UBS Group raised their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Scotiabank boosted their price target on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $98.34 on Monday. The company’s fifty day simple moving average is $88.19 and its two-hundred day simple moving average is $76.26. Millicom International Cellular has a 52 week low of $38.96 and a 52 week high of $100.08. The stock has a market cap of $16.62 billion, a P/E ratio of 13.36 and a beta of 0.92. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33.

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

Insider Activity at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the sale, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. The trade was a 22.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 50,140 shares of company stock valued at $4,425,461. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in Millicom International Cellular by 48.1% during the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after acquiring an additional 14,990 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Millicom International Cellular during the 1st quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular during the 1st quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Millicom International Cellular during the 1st quarter valued at approximately $8,504,000.

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.