Millicom International Cellular S.A. (NASDAQ:TIGO) Receives Consensus Rating of “Moderate Buy” from Analysts

Millicom International Cellular S.A. (NASDAQ:TIGO) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.20.

Several equities analysts have recently weighed in on the stock. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $22.50 price target on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upgraded shares of Millicom International Cellular from a “neutral” rating to an “overweight” rating in a report on Thursday. Scotiabank upped their price objective on shares of Millicom International Cellular from $18.00 to $26.10 and gave the stock a “sector outperform” rating in a report on Wednesday, February 28th. Morgan Stanley upgraded shares of Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. Finally, New Street Research upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $24.00 in a report on Thursday, February 29th.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIGO. Brandes Investment Partners LP grew its holdings in shares of Millicom International Cellular by 28.7% during the third quarter. Brandes Investment Partners LP now owns 4,394,992 shares of the technology company’s stock worth $67,903,000 after buying an additional 981,159 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Millicom International Cellular by 0.3% in the third quarter. Gamco Investors INC. ET AL now owns 1,066,287 shares of the technology company’s stock valued at $16,474,000 after purchasing an additional 2,805 shares during the period. LB Partners LLC purchased a new stake in Millicom International Cellular in the fourth quarter valued at approximately $9,000,000. Renaissance Technologies LLC grew its holdings in Millicom International Cellular by 43.7% in the second quarter. Renaissance Technologies LLC now owns 415,297 shares of the technology company’s stock valued at $5,953,000 after purchasing an additional 126,350 shares during the period. Finally, Millennium Management LLC grew its holdings in Millicom International Cellular by 559.6% in the second quarter. Millennium Management LLC now owns 393,912 shares of the technology company’s stock valued at $5,661,000 after purchasing an additional 334,189 shares during the period.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $19.80 on Thursday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.82 and a quick ratio of 0.80. The firm has a fifty day moving average price of $17.54 and a 200 day moving average price of $16.89. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $20.12.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.36) EPS for the quarter. Millicom International Cellular had a negative net margin of 1.45% and a negative return on equity of 2.41%. The firm had revenue of $1.48 billion for the quarter.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.