Millicom International Cellular (NASDAQ:TIGO) Rating Increased to Strong-Buy at Hsbc Global Res

Millicom International Cellular (NASDAQ:TIGO) was upgraded by Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also commented on TIGO. JPMorgan Chase & Co. reduced their target price on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.26.

Millicom International Cellular Stock Up 1.2 %

Shares of Millicom International Cellular stock opened at $27.78 on Wednesday. Millicom International Cellular has a 1 year low of $15.55 and a 1 year high of $28.75. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 29.55 and a beta of 1.17. The company has a 50-day moving average of $25.36 and a 200 day moving average of $25.99. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Millicom International Cellular’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Millicom International Cellular will post 2.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LB Partners LLC boosted its stake in Millicom International Cellular by 2.0% in the 3rd quarter. LB Partners LLC now owns 511,923 shares of the technology company’s stock worth $13,883,000 after purchasing an additional 9,923 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Millicom International Cellular by 138.9% during the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after buying an additional 157,205 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Millicom International Cellular by 95.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after buying an additional 52,638 shares during the last quarter. Envestnet Asset Management Inc. increased its position 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 valued at $2,554,000 after acquiring an additional 5,624 shares during the period. Finally, Perpetual Ltd purchased a new position in Millicom International Cellular in the 4th quarter worth $1,587,000.

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.