Millicom International Cellular (NASDAQ:TIGO) Shares Gap Up to $24.61

Millicom International Cellular S.A. (NASDAQ:TIGO)’s share price gapped up prior to trading on Friday . The stock had previously closed at $24.61, but opened at $26.00. Millicom International Cellular shares last traded at $26.15, with a volume of 60,980 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TIGO shares. Hsbc Global Res lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Scotiabank boosted their target price on 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. HSBC lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. started coverage on Millicom International Cellular in a report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Millicom International Cellular Trading Up 5.1 %

The company has a market capitalization of $2.63 billion, a P/E ratio of 492.20 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.86 and a quick ratio of 0.84. The firm has a fifty day moving average price of $24.38 and a 200-day moving average price of $20.99.

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

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of Millicom International Cellular by 1,431.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,303 shares in the last quarter. Signaturefd LLC lifted its position in shares of Millicom International Cellular by 217.9% during the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock worth $28,000 after acquiring an additional 780 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Millicom International Cellular during the second quarter worth $67,000. Principal Securities Inc. purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth $87,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Millicom International Cellular during the second quarter worth $98,000.

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.