Millicom International Cellular SA (NASDAQ:TIGO) Receives $59.33 Consensus Target Price from Analysts

Millicom International Cellular SA (NASDAQ:TIGO) has earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $59.3333.

TIGO has been the topic of several recent research reports. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Zacks Research cut Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Morgan Stanley reaffirmed a “positive” rating and issued a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Friday, March 6th.

Millicom International Cellular Stock Up 1.2%

NASDAQ:TIGO opened at $73.58 on Tuesday. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 9.37 and a beta of 0.90. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The stock’s fifty day moving average price is $65.11 and its two-hundred day moving average price is $55.38. Millicom International Cellular has a 52-week low of $26.35 and a 52-week high of $75.25.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. On average, analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP grew its stake in shares of Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after purchasing an additional 418 shares during the period. Altshuler Shaham Ltd acquired a new position in Millicom International Cellular in the fourth quarter valued at about $26,000. Blue Trust Inc. lifted its stake in Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after buying an additional 427 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after buying an additional 314 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Millicom International Cellular during the 4th quarter worth about $29,000.

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.