Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $27.00 Consensus Target Price from Analysts

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $27.00.

Several equities research analysts recently weighed in on TIGO shares. JPMorgan Chase & Co. started coverage on shares of Millicom International Cellular in a research report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 price target for the company. HSBC downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Scotiabank raised their price target on shares of Millicom International Cellular from $26.80 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, June 21st. Finally, Hsbc Global Res downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.

Millicom International Cellular Trading Down 1.7 %

Shares of NASDAQ TIGO opened at $24.28 on Thursday. Millicom International Cellular has a fifty-two week low of $14.46 and a fifty-two week high of $25.60. The company has a 50 day simple moving average of $23.79 and a two-hundred day simple moving average of $20.29. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.74.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.54 earnings per share for the quarter. Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%. The business had revenue of $1.49 billion during the quarter.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LB Partners LLC purchased a new position in shares of Millicom International Cellular during the 4th quarter worth $9,000,000. Morningstar Investment Services LLC boosted its stake in shares of Millicom International Cellular by 105.6% during the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after acquiring an additional 126,679 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Millicom International Cellular during the 1st quarter worth $1,216,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Millicom International Cellular during the 3rd quarter worth $627,000. Finally, Optiver Holding B.V. boosted its stake in shares of Millicom International Cellular by 216.0% during the 4th quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock worth $1,019,000 after acquiring an additional 38,697 shares during the last quarter.

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.