Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $24.70 Average Price Target from Analysts

Millicom International Cellular S.A. (NASDAQ:TIGO) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.70.

Several equities analysts have issued reports on TIGO shares. HSBC upped their price objective on shares of Millicom International Cellular from $22.50 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley upgraded shares of Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Scotiabank increased their target price on shares of Millicom International Cellular from $18.00 to $26.10 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upgraded shares of Millicom International Cellular from a “neutral” rating to an “overweight” rating in a research note on Thursday, March 28th. Finally, New Street Research upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $24.00 in a research report on Thursday, February 29th.

Millicom International Cellular Stock Down 0.9 %

Shares of NASDAQ TIGO opened at $20.16 on Monday. Millicom International Cellular has a 52-week low of $14.46 and a 52-week high of $20.81. The business’s 50 day moving average is $18.84 and its two-hundred day moving average is $17.53. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.88. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -42.89 and a beta of 1.15.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, February 27th. The technology company reported ($0.36) earnings per share for the quarter. The company had revenue of $1.48 billion for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. LB Partners LLC purchased a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $9,000,000. Schonfeld Strategic Advisors LLC purchased a new stake in Millicom International Cellular in the 3rd quarter worth approximately $627,000. DAVENPORT & Co LLC grew its stake in Millicom International Cellular by 2.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 95,731 shares of the technology company’s stock worth $1,479,000 after acquiring an additional 2,556 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in 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 worth $1,441,000 after acquiring an additional 1,550 shares during the period. Finally, Brandes Investment Partners LP grew its stake in 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 worth $67,903,000 after acquiring an additional 981,159 shares during the period.

Millicom International Cellular Company Profile

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.