Millicom International Cellular SA (NASDAQ:TIGO – Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $62.67 and last traded at $61.6440, with a volume of 241982 shares. The stock had previously closed at $60.83.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on TIGO shares. Scotiabank raised their price target on Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Wall Street Zen upgraded shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Moderate Buy” and an average price target of $53.95.
Check Out Our Latest Report on TIGO
Millicom International Cellular Price Performance
Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.21). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The business’s quarterly revenue was down .8% on a year-over-year basis. On average, equities research analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in TIGO. Royal Bank of Canada raised its holdings in shares of Millicom International Cellular by 48.1% during the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after purchasing an additional 14,990 shares during the period. AQR Capital Management LLC raised its stake in shares of Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Millicom International Cellular during the 1st quarter valued at $2,188,000. Goldman Sachs Group Inc. purchased a new stake in shares of Millicom International Cellular in the first quarter valued at about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Millicom International Cellular in the 1st quarter worth about $8,504,000.
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.
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