Millicom International Cellular (NASDAQ:TIGO) Upgraded at Wall Street Zen

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

Several other brokerages also recently issued reports on TIGO. Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Scotiabank upped their price target on 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 target price on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, UBS Group boosted their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a “buy” rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.43.

Millicom International Cellular Stock Up 2.0%

Shares of Millicom International Cellular stock opened at $47.19 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The firm has a market cap of $8.12 billion, a P/E ratio of 8.32 and a beta of 1.04. Millicom International Cellular has a fifty-two week low of $23.61 and a fifty-two week high of $47.26. The business has a 50-day moving average price of $39.97 and a 200 day moving average price of $34.46.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.40 billion. On average, sell-side analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners acquired a new stake in Millicom International Cellular in the 1st quarter valued at $73,286,000. Teacher Retirement System of Texas bought a new stake in shares of Millicom International Cellular during the 1st quarter worth about $1,402,000. KBC Group NV bought a new stake in shares of Millicom International Cellular during the 1st quarter worth about $233,000. CWA Asset Management Group LLC boosted its holdings in shares of Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company’s stock worth $373,000 after buying an additional 3,141 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Millicom International Cellular during the 1st quarter worth about $1,648,000.

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.