Brokerages Set Millicom International Cellular SA (NASDAQ:TIGO) Target Price at $42.02

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $42.0167.

TIGO has been the subject of several analyst reports. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 21st. Zacks Research upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Scotiabank increased 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 report on Tuesday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their price objective for the company from $39.50 to $49.00 in a research report on Thursday, September 11th.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $47.80 on Tuesday. The company has a 50-day simple moving average of $45.07 and a 200-day simple moving average of $37.84. 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 market capitalization of $8.23 billion, a price-to-earnings ratio of 8.43 and a beta of 1.09. Millicom International Cellular has a one year low of $23.61 and a one year high of $50.78.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data 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 company had revenue of $1.37 billion for 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%. On average, analysts predict that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dodge & Cox lifted its holdings in Millicom International Cellular by 1.5% in the second quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock valued at $331,090,000 after acquiring an additional 134,400 shares during the period. Brandes Investment Partners LP lifted its position in shares of Millicom International Cellular by 2.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company’s stock valued at $248,228,000 after acquiring an additional 161,861 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Millicom International Cellular by 5,033.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company’s stock valued at $168,874,000 after acquiring an additional 5,470,214 shares during the period. Boston Partners lifted its position in shares of Millicom International Cellular by 22.1% during the 2nd quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock valued at $110,779,000 after acquiring an additional 535,399 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Millicom International Cellular during the 1st quarter valued at approximately $85,909,000.

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.