Millicom International Cellular (NASDAQ:TIGO) Upgraded by Hsbc Global Res to Strong-Buy Rating

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) was upgraded by Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a report on Wednesday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Millicom International Cellular has a consensus rating of "Buy" and a consensus price target of $32.26.

Millicom International Cellular Stock Down 0.7 %

Shares of TIGO stock traded down $0.20 during trading on Wednesday, reaching $27.58. The company's stock had a trading volume of 359,081 shares, compared to its average volume of 370,235. Millicom International Cellular has a one year low of $15.55 and a one year high of $28.75. The business has a fifty day moving average price of $25.40 and a 200-day moving average price of $26.00. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 29.35 and a beta of 1.17. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.38). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. Analysts anticipate that Millicom International Cellular will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC grew its position in shares of Millicom International Cellular by 138.9% during the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company's stock worth $6,638,000 after purchasing an additional 157,205 shares in the last quarter. Perpetual Ltd acquired a new stake in Millicom International Cellular during the fourth quarter worth about $1,587,000. Charles Schwab Investment Management Inc. increased its holdings in Millicom International Cellular by 95.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company's stock valued at $2,930,000 after buying an additional 52,638 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Millicom International Cellular in the 2nd quarter valued at approximately $884,000. Finally, Tidal Investments LLC acquired a new position in shares of Millicom International Cellular in the 3rd quarter valued at approximately $602,000.

About Millicom International Cellular

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.