Janney Montgomery Scott LLC Makes New Investment in Millicom International Cellular SA $TIGO

Key Points

• Janney Montgomery Scott LLC has made a new investment in Millicom International Cellular SA, purchasing 10,805 shares valued at approximately $405,000 in the second quarter.
• Millicom reported a quarterly earnings per share of $0.51, missing the consensus estimate of $0.54, with revenues of $1.37 billion against expectations of $1.40 billion.
• Analyst ratings for Millicom have seen changes, with JPMorgan Chase increasing the price target to $55, while Zacks has downgraded the rating from "strong-buy" to "hold."

Janney Montgomery Scott LLC purchased a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,805 shares of the technology company's stock, valued at approximately $405,000.

A number of other institutional investors also recently added to or reduced their stakes in TIGO. Caitong International Asset Management Co. Ltd acquired a new position in Millicom International Cellular during the 1st quarter worth $84,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Millicom International Cellular by 65.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after acquiring an additional 2,489 shares during the period. EWA LLC acquired a new position in Millicom International Cellular during the 1st quarter worth $201,000. Spinnaker Trust acquired a new position in Millicom International Cellular during the 1st quarter worth $212,000. Finally, HighTower Advisors LLC acquired a new position in Millicom International Cellular during the 1st quarter worth $218,000.

Millicom International Cellular Stock Up 1.7%

NASDAQ:TIGO opened at $47.24 on Friday. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 8.33 and a beta of 1.11. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $50.78. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The business's fifty day moving average price is $47.29 and its 200 day moving average price is $39.84.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. On average, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Weiss Ratings restated a "buy (b)" rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. UBS Group lowered Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their price objective for the company from $39.50 to $49.00 in a report on Thursday, September 11th. Finally, Zacks Research lowered Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.02.

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.

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