Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $30.66 Average Price Target from Analysts

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.66.

TIGO has been the subject of several recent research reports. Scotiabank raised shares of Millicom International Cellular from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $30.00 to $37.30 in a research report on Friday, September 20th. JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a research note on Friday, September 6th. They issued an "overweight" rating and a $35.00 price objective for the company. Finally, UBS Group upgraded shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $25.00 to $33.00 in a report on Thursday, August 15th.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO traded down $0.77 during midday trading on Friday, hitting $24.82. 425,020 shares of the stock were exchanged, compared to its average volume of 80,620. The business's fifty day simple moving average is $26.95 and its two-hundred day simple moving average is $25.72. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a 52-week low of $15.55 and a 52-week high of $28.75.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.38). The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share. On average, sell-side analysts forecast that Millicom International Cellular will post 2.33 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Large investors have recently modified their holdings of the company. Signaturefd LLC boosted its stake in Millicom International Cellular by 217.9% during the 2nd quarter. Signaturefd LLC now owns 1,138 shares of the technology company's stock valued at $28,000 after purchasing an additional 780 shares during the period. Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 159.7% during the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company's stock worth $60,000 after buying an additional 1,367 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Millicom International Cellular in the second quarter valued at approximately $67,000. National Bank of Canada FI acquired a new stake in shares of Millicom International Cellular in the third quarter worth $76,000. Finally, Point72 Asset Management L.P. bought a new position in Millicom International Cellular during the third quarter worth $87,000.

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.