Millicom International Cellular (NASDAQ:TIGO) Stock Rating Lowered by Wall Street Zen

Millicom International Cellular (NASDAQ:TIGO) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other research analysts also recently weighed in on TIGO. Zacks Research upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Scotiabank upped their price objective 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. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.02.

Millicom International Cellular Stock Up 0.9%

Millicom International Cellular stock opened at $48.15 on Friday. 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 company has a fifty day simple moving average of $45.93 and a 200 day simple moving average of $38.64. Millicom International Cellular has a 1-year low of $23.61 and a 1-year high of $50.78. The company has a market cap of $8.29 billion, a P/E ratio of 8.49 and a beta of 1.11.

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

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners purchased a new stake in Millicom International Cellular during the first quarter valued at about $73,286,000. Teacher Retirement System of Texas purchased a new stake in Millicom International Cellular during the first quarter valued at about $1,402,000. KBC Group NV purchased a new stake in Millicom International Cellular during the first quarter valued at about $233,000. CWA Asset Management Group LLC lifted its holdings in Millicom International Cellular by 34.3% during the first quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company’s stock valued at $373,000 after purchasing an additional 3,141 shares during the last quarter. Finally, Militia Capital Partners LP purchased a new stake in Millicom International Cellular during the first quarter valued at about $908,000.

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.