Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High on Analyst Upgrade

Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $55.00 to $63.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Millicom International Cellular traded as high as $53.62 and last traded at $53.53, with a volume of 985188 shares trading hands. The stock had previously closed at $50.33.

Several other research analysts have also recently weighed in on the company. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Zacks Research cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and boosted their target price for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Finally, Scotiabank raised their price target on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC acquired a new stake in shares of Millicom International Cellular in the third quarter worth approximately $983,000. PDT Partners LLC lifted its holdings in Millicom International Cellular by 25.3% in the 3rd quarter. PDT Partners LLC now owns 225,909 shares of the technology company’s stock valued at $10,966,000 after purchasing an additional 45,600 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Millicom International Cellular during the 3rd quarter worth $1,494,000. Quarry LP purchased a new stake in shares of Millicom International Cellular during the third quarter worth $143,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Millicom International Cellular by 312.0% during the third quarter. Public Employees Retirement System of Ohio now owns 482,147 shares of the technology company’s stock worth $23,403,000 after buying an additional 365,112 shares in the last quarter.

Millicom International Cellular Price Performance

The stock’s 50-day moving average price is $48.02 and its 200 day moving average price is $42.57. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 9.44 and a beta of 1.11.

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

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.