Wall Street Zen Downgrades Millicom International Cellular (NASDAQ:TIGO) to Buy

Millicom International Cellular (NASDAQ:TIGO) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities analysts have also recently commented on the stock. Zacks Research upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Scotiabank boosted their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a “sector perform” rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and boosted their price target for the company from $39.50 to $49.00 in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.02.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $47.53 on Friday. The company’s fifty day moving average is $43.26 and its two-hundred day moving average is $36.66. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 12-month low of $23.61 and a 12-month high of $50.78. The company has a market cap of $8.18 billion, a P/E ratio of 8.38 and a beta of 1.08.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Equities analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. USA Financial Formulas acquired a new position in shares of Millicom International Cellular during the second quarter valued at about $30,000. State of Wyoming acquired a new position in shares of Millicom International Cellular during the fourth quarter valued at about $49,000. EverSource Wealth Advisors LLC raised its position in shares of Millicom International Cellular by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after buying an additional 502 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Millicom International Cellular during the first quarter valued at about $84,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock valued at $190,000 after buying an additional 2,489 shares during the last quarter.

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.