Millicom International Cellular SA (NASDAQ:TIGO) Receives $79.28 Consensus PT from Analysts

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $79.28.

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank boosted their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. Zacks Research lowered shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. UBS Group raised their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the transaction, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 50,140 shares of company stock worth $4,425,461 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in Millicom International Cellular by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock valued at $65,000 after purchasing an additional 139 shares in the last quarter. EWA LLC boosted its stake in shares of Millicom International Cellular by 2.5% during the 4th quarter. EWA LLC now owns 7,025 shares of the technology company’s stock worth $389,000 after acquiring an additional 169 shares during the period. Altshuler Shaham Ltd boosted its position in Millicom International Cellular by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares during the period. Vident Advisory LLC grew its position in shares of Millicom International Cellular by 2.3% in the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock valued at $635,000 after purchasing an additional 254 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Millicom International Cellular by 896.7% during the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after acquiring an additional 269 shares during the period.

Millicom International Cellular Trading Down 0.8%

Shares of NASDAQ:TIGO opened at $97.86 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 13.30 and a beta of 0.92. Millicom International Cellular has a 1-year low of $39.01 and a 1-year high of $100.75. The company has a 50 day moving average price of $89.25 and a 200 day moving average price of $77.16.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. On average, research analysts anticipate that Millicom International Cellular will post 1.78 EPS for the current fiscal year.

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.