Scotiabank Issues Positive Forecast for Millicom International Cellular (NASDAQ:TIGO) Stock Price

by · The Markets Daily

Millicom International Cellular (NASDAQ:TIGO – Free Report) had its target price hoisted by Scotiabank from $52.40 to $60.10 in a report issued on Friday morning,Benzinga reports. Scotiabank currently has a sector underperform rating on the technology company’s stock.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Zacks Research cut Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, UBS Group lifted their price target on Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.82.

Check Out Our Latest Analysis on TIGO

Millicom International Cellular Trading Up 0.0%

Shares of TIGO stock opened at $97.14 on Friday. The business’s 50 day moving average is $92.15 and its two-hundred day moving average is $80.64. Millicom International Cellular has a twelve month low of $42.00 and a twelve month high of $107.13. The company has a market capitalization of $16.42 billion, a P/E ratio of 24.53 and a beta of 0.91. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07.

Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 18.39% and a net margin of 9.19%.The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Equities analysts forecast that Millicom International Cellular will post 1.78 EPS for the current year.

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, the insider owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 50,140 shares of company stock valued at $4,425,461 in the last ninety days.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after acquiring an additional 269 shares during the period. Allworth Financial LP lifted its stake in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Millicom International Cellular during the 4th quarter valued at $26,000. PNC Financial Services Group Inc. increased its position in Millicom International Cellular by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after buying an additional 139 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Millicom International Cellular in the fourth quarter valued at $61,000.

Millicom International Cellular Company Profile

(Get Free Report)

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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