Millicom International Cellular (NASDAQ:TIGO) Issues Quarterly Earnings Results

Millicom International Cellular (NASDAQ:TIGO) released its earnings results on Thursday. The technology company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38), Briefing.com reports. The company 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 2.91% and a net margin of 1.83%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS.

Millicom International Cellular Stock Up 1.6 %

TIGO traded up $0.43 during trading hours on Friday, reaching $26.84. The company’s stock had a trading volume of 100,336 shares, compared to its average volume of 96,807. Millicom International Cellular has a fifty-two week low of $15.55 and a fifty-two week high of $28.75. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. The business’s 50-day moving average is $27.11 and its 200-day moving average is $25.14.

Wall Street Analysts Forecast Growth

TIGO has been the subject of several recent research reports. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $33.00 in a research note on Thursday, August 15th. 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 research report on Friday, September 20th. Finally, JPMorgan Chase & Co. started coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular has a consensus rating of “Moderate Buy” and an average target price of $30.66.

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.