Millicom International Cellular SA (NASDAQ:TIGO) Receives $43.47 Average PT from Brokerages

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $43.4667.

Several research firms recently weighed in on TIGO. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $39.50 to $49.00 in a research report on Thursday, September 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Scotiabank raised their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $51.17 on Thursday. Millicom International Cellular has a 12-month low of $23.61 and a 12-month high of $57.64. The company has a market cap of $8.81 billion, a PE ratio of 7.84 and a beta of 0.94. The stock has a 50 day simple moving average of $52.18 and a 200-day simple moving average of $47.01. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, equities research analysts forecast that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after acquiring an additional 314 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $28,000. USA Financial Formulas bought a new stake in shares of Millicom International Cellular in the 2nd quarter worth approximately $30,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Millicom International Cellular in the 3rd quarter worth approximately $32,000.

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.