Analysts Set Millicom International Cellular S.A. (NASDAQ:TIGO) Price Target at $30.66

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.66.

TIGO has been the topic of a number of research analyst reports. Hsbc Global Res downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. HSBC cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 target price on the stock. Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $30.00 to $37.30 in a report on Friday, September 20th. Finally, UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $33.00 in a report on Thursday, August 15th.

Institutional Trading of Millicom International Cellular

A number of large investors have recently modified their holdings of the company. LB Partners LLC increased its holdings in shares of Millicom International Cellular by 0.4% in the 2nd quarter. LB Partners LLC now owns 502,000 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 2,000 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Millicom International Cellular by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after acquiring an additional 83,939 shares during the period. Millennium Management LLC increased its holdings in shares of Millicom International Cellular by 138.9% in the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after acquiring an additional 157,205 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Millicom International Cellular by 5.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock worth $2,554,000 after acquiring an additional 5,624 shares during the period. Finally, Gabelli Funds LLC increased its holdings in shares of Millicom International Cellular by 17.2% in the 1st quarter. Gabelli Funds LLC now owns 88,833 shares of the technology company’s stock worth $1,797,000 after acquiring an additional 13,020 shares during the period.

Millicom International Cellular Trading Up 0.3 %

NASDAQ TIGO opened at $27.49 on Friday. Millicom International Cellular has a 12 month low of $14.46 and a 12 month high of $28.75. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.66 and a quick ratio of 0.64. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 549.80 and a beta of 1.23. The company’s fifty day moving average price is $26.69 and its two-hundred day moving average price is $24.43.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Friday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The company had revenue of $1.46 billion for the quarter. During the same quarter last year, the business earned ($0.13) EPS. As a group, research analysts predict that Millicom International Cellular will post 2.33 earnings per share for the current fiscal year.

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.