Brokerages Set Millicom International Cellular S.A. (NASDAQ:TIGO) Price Target at $30.66

Millicom International Cellular S.A. (NASDAQ:TIGO) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.66.

A number of equities research analysts have commented on TIGO shares. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $33.00 in a report on Thursday, August 15th. JPMorgan Chase & Co. assumed coverage on Millicom International Cellular in a research report on Friday, September 6th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $30.00 to $37.30 in a report on Friday, September 20th.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $27.14 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. The stock has a 50 day moving average of $27.14 and a 200-day moving average of $25.19. Millicom International Cellular has a 12 month low of $15.55 and a 12 month high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts predict that Millicom International Cellular will post 2.33 EPS for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently made changes to their positions in TIGO. Signaturefd LLC boosted its position in shares of Millicom International Cellular by 217.9% during the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock worth $28,000 after acquiring an additional 780 shares during the last quarter. Blue Trust Inc. increased its holdings in Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,367 shares during the period. Fifth Third Bancorp purchased a new position in Millicom International Cellular during the second quarter valued at approximately $67,000. Summit Securities Group LLC purchased a new stake in shares of Millicom International Cellular during the second quarter valued at about $98,000. Finally, SG Americas Securities LLC boosted its stake in Millicom International Cellular by 13.1% in the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock valued at $160,000 after acquiring an additional 920 shares in 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.