Millicom International Cellular (NASDAQ:TIGO) Raised to “Strong-Buy” at UBS Group

Millicom International Cellular (NASDAQ:TIGO) was upgraded by equities research analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

A number of other research firms also recently weighed in on TIGO. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 4th. Scotiabank raised their target price on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. downgraded Millicom International Cellular from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $100.00 to $105.00 in a research note on Tuesday, August 18th. Weiss Ratings lowered shares of Millicom International Cellular from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Royal Bank Of Canada set a $105.00 price target on shares of Millicom International Cellular in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.68.

Millicom International Cellular Trading Up 2.3%

NASDAQ:TIGO opened at $88.75 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 3.41. Millicom International Cellular has a 12 month low of $48.58 and a 12 month high of $107.13. The company has a market cap of $15.00 billion, a PE ratio of 26.26 and a beta of 1.00. The company has a 50 day simple moving average of $87.13 and a two-hundred day simple moving average of $83.57.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, November 5th. The technology company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.40). The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Millicom International Cellular had a net margin of 7.02% and a return on equity of 21.45%. Millicom International Cellular’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Research analysts forecast that Millicom International Cellular will post 4.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cullen Capital Management LLC bought a new position in shares of Millicom International Cellular during the 2nd quarter valued at approximately $71,258,000. Bank of New York Mellon Corp bought a new stake in Millicom International Cellular during the 2nd quarter worth approximately $45,791,000. Public Employees Retirement System of Ohio bought a new stake in Millicom International Cellular during the 2nd quarter worth approximately $33,503,000. Amundi lifted its holdings in Millicom International Cellular by 120.8% during the first quarter. Amundi now owns 529,936 shares of the technology company’s stock valued at $39,713,000 after purchasing an additional 289,913 shares in the last quarter. Finally, SEB Asset Management AB purchased a new position in Millicom International Cellular during the first quarter valued at approximately $11,220,000.

About Millicom International Cellular

Millicom International Cellular is a telecommunications company that serves consumers, households and businesses in Latin America under the Tigo brand. Its services include mobile voice and data, fixed broadband and pay television. The company also provides digital and enterprise services, including connectivity and related technology solutions for businesses. Its operations span multiple Latin American markets, with offerings tailored to local consumer and business needs. Founded in 1990, Millicom has developed from an international mobile operator into a provider of integrated telecommunications and digital services.