Millicom International Cellular (NASDAQ:TIGO) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Other analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday. Scotiabank raised their target price on 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. Wall Street Zen downgraded Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Finally, UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their target price for the stock from $39.50 to $49.00 in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.02.

Millicom International Cellular Trading Up 0.6%

Shares of NASDAQ:TIGO opened at $47.62 on Wednesday. Millicom International Cellular has a 1 year low of $23.61 and a 1 year high of $50.78. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 8.40 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. The business’s 50 day moving average price is $46.73 and its 200-day moving average price is $39.19.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, equities research 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

Several institutional investors have recently bought and sold shares of the company. Dodge & Cox purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at about $263,401,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Millicom International Cellular by 5,033.3% in 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 buying an additional 5,470,214 shares during the period. Swedbank AB purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at about $85,909,000. Perpetual Ltd boosted its stake in shares of Millicom International Cellular by 5,283.2% in the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock valued at $132,610,000 after buying an additional 2,681,221 shares during the period. Finally, Boston Partners purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at about $73,286,000.

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.