Millicom International Cellular (NASDAQ:TIGO) Stock Rating Upgraded by UBS Group

Millicom International Cellular (NASDAQ:TIGO) was upgraded by research analysts at UBS Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $109.00 price objective on the technology company’s stock, up from their previous price objective of $100.00. UBS Group‘s price objective would suggest a potential upside of 21.83% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Scotiabank increased their price target on shares of Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research report on Friday, August 7th. Weiss Ratings lowered shares of Millicom International Cellular from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Monday. JPMorgan Chase & Co. lowered shares of Millicom International Cellular from an “overweight” rating to a “neutral” rating and increased their price target for the company from $100.00 to $105.00 in a research report on Tuesday, August 18th. Royal Bank Of Canada set a $105.00 price target on shares of Millicom International Cellular in a research report on Tuesday, August 18th. Finally, Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.18.

Millicom International Cellular Stock Performance

TIGO traded up $0.72 during trading on Tuesday, hitting $89.47. 449,707 shares of the company traded hands, compared to its average volume of 1,356,904. The firm has a market cap of $15.12 billion, a P/E ratio of 26.43 and a beta of 1.00. The stock’s fifty day moving average is $87.13 and its 200 day moving average is $83.57. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.41. Millicom International Cellular has a one year low of $49.40 and a one year high of $107.13.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 5th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.40). The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, equities analysts predict that Millicom International Cellular will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIGO. Versant Capital Management Inc lifted its holdings in shares of Millicom International Cellular by 896.7% in the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after buying an additional 269 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Millicom International Cellular in the third quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Millicom International Cellular in the third quarter worth approximately $36,000. Altshuler Shaham Ltd increased its position in shares of Millicom International Cellular by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Millicom International Cellular by 32.4% in the second quarter. Allworth Financial LP now owns 650 shares of the technology company’s stock worth $59,000 after purchasing an additional 159 shares during the last quarter.

Millicom International Cellular Company Profile

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.