Millicom International Cellular (NASDAQ:TIGO) Price Target Raised to $52.40

by · The Cerbat Gem

Millicom International Cellular (NASDAQ:TIGO – Get Free Report) had its price target boosted by stock analysts at Scotiabank from $51.20 to $52.40 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the technology company’s stock. Scotiabank’s price objective points to a potential downside of 39.27% from the company’s current price.

A number of other equities analysts also recently weighed in on TIGO. JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research report on Tuesday. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Friday, March 6th. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and an average target price of $77.28.

Get Our Latest Stock Analysis on Millicom International Cellular

Millicom International Cellular Trading Up 4.0%

NASDAQ TIGO traded up $3.28 during trading hours on Wednesday, hitting $86.29. 463,286 shares of the company’s stock were exchanged, compared to its average volume of 1,349,219. The business’s 50 day moving average is $80.12 and its 200-day moving average is $66.18. Millicom International Cellular has a 12-month low of $35.49 and a 12-month high of $87.05. The firm has a market capitalization of $14.58 billion, a P/E ratio of 11.70 and a beta of 0.93. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. As a group, analysts anticipate that Millicom International Cellular will post 3.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds have recently modified their holdings of the stock. CTC Alternative Strategies Ltd. purchased a new position in Millicom International Cellular in the 1st quarter worth approximately $600,000. Bank of America Corp DE raised its stake in shares of Millicom International Cellular by 22.0% during the first quarter. Bank of America Corp DE now owns 243,778 shares of the technology company’s stock valued at $18,269,000 after purchasing an additional 43,947 shares during the period. Altshuler Shaham Ltd lifted its position in shares of Millicom International Cellular by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares in the last quarter. Amundi boosted its stake in shares of Millicom International Cellular by 120.8% in the first quarter. Amundi now owns 529,936 shares of the technology company’s stock valued at $39,713,000 after purchasing an additional 289,913 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Millicom International Cellular by 44.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the technology company’s stock valued at $267,000 after purchasing an additional 1,098 shares during the period.

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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