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

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

Several other equities analysts also recently commented on TIGO. Scotiabank upped their price objective on Millicom International Cellular from $37.00 to $46.10 and gave the company a “sector perform” rating in a research note on Tuesday, August 19th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and upped their price objective for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.02.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $49.68 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a 50 day moving average price of $44.33 and a two-hundred day moving average price of $37.35. The firm has a market capitalization of $8.55 billion, a P/E ratio of 8.76 and a beta of 1.09. Millicom International Cellular has a 52 week low of $23.61 and a 52 week high of $50.78.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. Equities analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the stock. USA Financial Formulas purchased a new stake in Millicom International Cellular in the second quarter worth about $30,000. State of Wyoming purchased a new position in shares of Millicom International Cellular during the fourth quarter valued at approximately $49,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Millicom International Cellular by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after purchasing an additional 502 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Millicom International Cellular during the first quarter valued at approximately $84,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock valued at $190,000 after purchasing an additional 2,489 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.