Millicom International Cellular S.A. (NASDAQ:TIGO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $24.70.

A number of equities analysts have recently issued reports on the stock. HSBC increased their price objective on shares of Millicom International Cellular from $22.50 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of Millicom International Cellular from a “neutral” rating to an “overweight” rating in a research note on Thursday, March 28th. New Street Research upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $24.00 in a research note on Thursday, February 29th. Morgan Stanley upgraded shares of Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Finally, Scotiabank increased their price objective on shares of Millicom International Cellular from $18.00 to $26.10 and gave the company a “sector outperform” rating in a research note on Wednesday, February 28th.

Millicom International Cellular Stock Up 0.4 %

Millicom International Cellular stock opened at $20.08 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.82 and a quick ratio of 0.80. Millicom International Cellular has a 1-year low of $14.46 and a 1-year high of $20.81. The company’s 50-day moving average is $18.57 and its 200 day moving average is $17.44.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, February 27th. The technology company reported ($0.36) EPS for the quarter. The company had revenue of $1.48 billion during the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors have recently bought and sold shares of TIGO. OLD Mission Capital LLC purchased a new position in shares of Millicom International Cellular in the fourth quarter worth $283,000. Greytown Advisors Inc. raised its holdings in shares of Millicom International Cellular by 91.6% in the fourth quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock worth $827,000 after buying an additional 21,965 shares during the last quarter. Morningstar Investment Services LLC raised its holdings in shares of Millicom International Cellular by 105.6% in the fourth quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after buying an additional 126,679 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Millicom International Cellular by 7.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 102,280 shares of the technology company’s stock worth $1,841,000 after buying an additional 7,443 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Millicom International Cellular by 1,431.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after buying an additional 1,303 shares during the last quarter.

About Millicom International Cellular

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.