Millicom International Cellular (NASDAQ:TIGO) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular (NASDAQ:TIGOFree Report) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $30.00 price target on the technology company’s stock.

Several other research analysts also recently commented on the company. HSBC boosted their target price on Millicom International Cellular from $22.50 to $24.00 and gave the stock a buy rating in a report on Thursday, April 11th. Scotiabank upped their price objective on Millicom International Cellular from $18.00 to $26.10 and gave the stock a sector outperform rating in a report on Wednesday, February 28th. Finally, New Street Research raised 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $26.03.

Get Our Latest Analysis on TIGO

Millicom International Cellular Price Performance

Shares of TIGO opened at $24.90 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.86 and a quick ratio of 0.84. Millicom International Cellular has a one year low of $14.46 and a one year high of $24.98. The business’s 50 day simple moving average is $21.56 and its 200-day simple moving average is $18.86.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TIGO. Gamco Investors INC. ET AL lifted its stake in shares of Millicom International Cellular by 0.3% in the 3rd 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. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Millicom International Cellular by 1.7% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 93,292 shares of the technology company’s stock valued at $1,441,000 after purchasing an additional 1,550 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Millicom International Cellular by 15.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,255 shares of the technology company’s stock valued at $236,000 after purchasing an additional 2,092 shares during the period. Brandes Investment Partners LP increased its position in shares of Millicom International Cellular by 28.7% in the 3rd quarter. Brandes Investment Partners LP now owns 4,394,992 shares of the technology company’s stock valued at $67,903,000 after buying an additional 981,159 shares in the last quarter. Finally, Renaissance Group LLC increased its position in shares of Millicom International Cellular by 14.8% in the 3rd quarter. Renaissance Group LLC now owns 131,057 shares of the technology company’s stock valued at $2,025,000 after buying an additional 16,873 shares in the last quarter.

Millicom International Cellular Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Millicom International Cellular (NASDAQ:TIGO)

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