Millicom International Cellular (NASDAQ:TIGO) Price Target Raised to $46.80

Millicom International Cellular (NASDAQ:TIGO) had its price target raised by Scotiabank from $46.10 to $46.80 in a research report report published on Friday,Benzinga reports. The firm currently has a sector perform rating on the technology company’s stock.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Zacks Research lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Finally, UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and increased their price target for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and an average target price of $42.13.

Millicom International Cellular Trading Down 0.6%

NASDAQ:TIGO opened at $47.48 on Friday. The firm has a 50-day simple moving average of $47.73 and a 200-day simple moving average of $41.85. Millicom International Cellular has a one year low of $23.61 and a one year high of $50.78. The firm has a market cap of $8.17 billion, a P/E ratio of 8.37 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company’s revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

A number of large investors have recently modified their holdings of TIGO. Dodge & Cox raised its position in shares of Millicom International Cellular by 1.5% in the 2nd quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock valued at $331,090,000 after purchasing an additional 134,400 shares during the last quarter. Brandes Investment Partners LP increased its stake in 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 purchasing an additional 161,861 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after purchasing an additional 5,020,602 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Millicom International Cellular by 5,033.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company’s stock worth $168,874,000 after buying an additional 5,470,214 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Millicom International Cellular by 22.1% during the second quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock worth $110,779,000 after buying an additional 535,399 shares during the period.

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.