Millicom International Cellular (NASDAQ:TIGO) Sees Strong Trading Volume - Still a Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) shares saw strong trading volume on Tuesday . 83,203 shares were traded during mid-day trading, a decline of 17% from the previous session's volume of 100,763 shares.The stock last traded at $25.03 and had previously closed at $24.90.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TIGO. JPMorgan Chase & Co. initiated coverage on Millicom International Cellular in a report on Friday, September 6th. They set an "overweight" rating and a $35.00 target price on the stock. Scotiabank upgraded shares of Millicom International Cellular from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $30.00 to $37.30 in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.66.

Millicom International Cellular Trading Down 0.2 %

The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 26.49 and a beta of 1.19. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The business has a 50 day simple moving average of $26.49 and a 200-day simple moving average of $25.82.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned ($0.03) earnings per share. The company's revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that Millicom International Cellular S.A. will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC acquired a new position in Millicom International Cellular during the 3rd quarter worth $602,000. Y Intercept Hong Kong Ltd acquired a new stake in Millicom International Cellular in the 3rd quarter valued at about $508,000. MML Investors Services LLC lifted its stake in shares of Millicom International Cellular by 5.3% during the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company's stock worth $402,000 after buying an additional 750 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Millicom International Cellular in the third quarter valued at about $427,000. Finally, National Bank of Canada FI acquired a new position in Millicom International Cellular in the 3rd quarter valued at $76,000.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.