Millicom International Cellular (NASDAQ:TIGO) Sees Unusually-High Trading Volume – Should You Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO) shares saw an uptick in trading volume on Tuesday . 83,203 shares were traded during trading, a decline of 17% from the previous session’s volume of 100,763 shares.The stock last traded at $25.03 and had previously closed at $24.90.

Analysts Set New Price Targets

Several equities analysts have commented on TIGO shares. JPMorgan Chase & Co. assumed coverage on shares of Millicom International Cellular in a research report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price target for the company. Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $30.00 to $37.30 in a report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.66.

Millicom International Cellular Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The stock’s fifty day moving average price is $26.40 and its two-hundred day moving average price is $25.81. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 25.82 and a beta of 1.19.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Equities research analysts expect that Millicom International Cellular S.A. will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TIGO. Fifth Third Bancorp purchased a new stake in Millicom International Cellular in the second quarter valued at $67,000. Summit Securities Group LLC acquired a new stake in shares of Millicom International Cellular during the second quarter worth about $98,000. LB Partners LLC lifted 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 valued at $12,324,000 after purchasing an additional 2,000 shares during the last quarter. Signaturefd LLC boosted its position in shares of Millicom International Cellular by 217.9% in the 2nd quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock valued at $28,000 after purchasing an additional 780 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new position in Millicom International Cellular during the 2nd quarter worth approximately $372,000.

About Millicom International Cellular

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.