Millicom International Cellular SA (NASDAQ:TIGO) Given Average Recommendation of “Hold” by Brokerages

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have earned an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $85.6833.

Several equities analysts have weighed in on TIGO shares. UBS Group raised their target price on Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Scotiabank raised their price objective on Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research note on Friday, August 7th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $105.00 price target (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada set a $105.00 price objective on shares of Millicom International Cellular in a research note on Tuesday, August 18th.

Millicom International Cellular Price Performance

Shares of TIGO opened at $94.83 on Tuesday. The company has a market capitalization of $16.03 billion, a price-to-earnings ratio of 23.95 and a beta of 0.92. Millicom International Cellular has a fifty-two week low of $44.88 and a fifty-two week high of $107.13. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.53 and a quick ratio of 0.51. The business’s 50-day moving average is $94.67 and its 200-day moving average is $85.16.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Millicom International Cellular during the fourth quarter valued at $26,000. Versant Capital Management Inc boosted its stake in shares of Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after purchasing an additional 502 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Millicom International Cellular in the 4th quarter worth about $61,000.

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.