Millicom International Cellular (NASDAQ:TIGO) Trading Down 2.7% on Analyst Downgrade

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price fell 2.7% on Thursday after UBS Group downgraded the stock from a buy rating to a neutral rating. UBS Group now has a $49.00 price target on the stock, up from their previous price target of $39.50. Millicom International Cellular traded as low as $46.90 and last traded at $46.68. 44,211 shares changed hands during trading, a decline of 95% from the average session volume of 942,642 shares. The stock had previously closed at $47.97.

Several other equities analysts also recently issued reports on TIGO. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 25th. Zacks Research raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. Scotiabank upped their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a “sector perform” rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.02.

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners acquired a new stake in Millicom International Cellular during the first quarter valued at approximately $73,286,000. Teacher Retirement System of Texas acquired a new stake in Millicom International Cellular during the first quarter valued at approximately $1,402,000. KBC Group NV purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $233,000. CWA Asset Management Group LLC lifted its position in shares of Millicom International Cellular by 34.3% in the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company’s stock valued at $373,000 after acquiring an additional 3,141 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $1,648,000.

Millicom International Cellular Trading Down 1.7%

The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The firm has a market cap of $8.12 billion, a PE ratio of 8.32 and a beta of 1.09. The company’s 50-day moving average is $43.07 and its 200 day moving average is $36.40.

Millicom International Cellular (NASDAQ:TIGO) last issued 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). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. As a group, sell-side analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current year.

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.