UBS Group Boosts Millicom International Cellular (NASDAQ:TIGO) Price Target to $39.50

Millicom International Cellular (NASDAQ:TIGO) had its price target hoisted by equities research analysts at UBS Group from $31.50 to $39.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s price objective points to a potential upside of 9.54% from the company’s previous close.

TIGO has been the topic of a number of other research reports. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price on the stock. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $33.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Scotiabank boosted their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. Finally, Barclays decreased their target price on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.73.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $36.06 on Friday. The company’s 50 day simple moving average is $31.36 and its 200 day simple moving average is $27.99. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 38.36 and a beta of 1.03. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a 1 year low of $22.59 and a 1 year high of $36.29.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.23. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. As a group, research analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds have recently modified their holdings of TIGO. State of Wyoming acquired a new position in shares of Millicom International Cellular during the fourth quarter worth $49,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Millicom International Cellular during the first quarter worth $84,000. Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 69.5% during the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after purchasing an additional 1,544 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock worth $122,000 after purchasing an additional 2,055 shares during the period. Finally, Principal Securities Inc. lifted its holdings in shares of Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock worth $176,000 after purchasing an additional 1,277 shares during the period.

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.