Millicom International Cellular (NASDAQ:TIGO) Stock Rating Lowered by Wall Street Zen

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

Other analysts also recently issued research reports about the company. Morgan Stanley reaffirmed a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a research note on Thursday, February 26th. Scotiabank downgraded Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $46.80 to $43.00 in a research report on Wednesday, February 11th. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Zacks Research downgraded shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Friday, March 6th. Five investment 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. Based on data from MarketBeat, Millicom International Cellular currently has an average rating of “Hold” and a consensus price target of $59.33.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $75.33 on Friday. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 9.60 and a beta of 0.90. The business has a 50-day moving average price of $67.66 and a 200-day moving average price of $56.60. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. Millicom International Cellular has a twelve month low of $26.35 and a twelve month high of $77.33.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of TIGO. Smartleaf Asset Management LLC boosted its stake 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 period. Allworth Financial LP increased its position in Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Millicom International Cellular in the third quarter valued at $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Millicom International Cellular in the fourth quarter valued at $26,000. Finally, Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 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.