Wall Street Zen Downgrades Millicom International Cellular (NASDAQ:TIGO) to Buy

Millicom International Cellular (NASDAQ:TIGO) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently weighed in on TIGO. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Friday, March 6th. Scotiabank downgraded Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the company from $46.80 to $43.00 in a report on Wednesday, February 11th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.33.

Millicom International Cellular Trading Up 2.7%

TIGO opened at $75.33 on Friday. Millicom International Cellular has a 1-year low of $26.35 and a 1-year high of $77.33. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. The company has a market cap of $12.96 billion, a P/E ratio of 9.60 and a beta of 0.90. The company has a fifty day moving average price of $67.66 and a two-hundred day moving average price of $56.48.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Several institutional investors and hedge funds have recently modified their holdings of TIGO. Dodge & Cox boosted its position in shares of Millicom International Cellular by 1.5% during the second quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock valued at $331,090,000 after buying an additional 134,400 shares during the last quarter. JPMorgan Chase & Co. raised its position in Millicom International Cellular by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after buying an additional 253,891 shares during the last quarter. Brandes Investment Partners LP lifted 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 acquiring an additional 161,861 shares in the last quarter. Barclays PLC boosted its holdings in Millicom International Cellular by 1.7% during the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after acquiring an additional 47,194 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in Millicom International Cellular by 5,283.2% during the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock worth $132,610,000 after acquiring an additional 2,681,221 shares during the last quarter.

About Millicom International Cellular

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.