Millicom International Cellular (NASDAQ:TIGO) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a neutral rating to a buy rating in a research report report published on Thursday, MarketBeat reports. UBS Group currently has $70.00 price target on the technology company’s stock, up from their previous price target of $49.00.

TIGO has been the subject of a number of other research reports. Scotiabank lifted their target price on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. upped their target price on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.97.

Millicom International Cellular Stock Up 6.5%

Shares of NASDAQ TIGO opened at $56.03 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $52.84 and a 200 day moving average price of $47.59. Millicom International Cellular has a 52 week low of $25.50 and a 52 week high of $57.64. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 8.58 and a beta of 0.94.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in Millicom International Cellular during the third quarter valued at about $4,010,000. Meritage Portfolio Management purchased a new position in shares of Millicom International Cellular in the 2nd quarter valued at $5,321,000. Itau Unibanco Holding S.A. raised its stake in shares of Millicom International Cellular by 52.7% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 703,267 shares of the technology company’s stock valued at $26,351,000 after acquiring an additional 242,569 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of Millicom International Cellular during the 2nd quarter valued at $1,850,000. Finally, Franklin Resources Inc. purchased a new stake in Millicom International Cellular during the 2nd quarter worth $1,293,000.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.