Millicom International Cellular (NASDAQ:TIGO) Lowered to Buy Rating by Wall Street Zen

Key Points

• Millicom International Cellular has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, reflecting a shift in analyst sentiment.
• Analysts from UBS Group and JPMorgan Chase have raised their price targets for Millicom's shares, with UBS increasing it from $31.50 to $39.50.
• Millicom reported a net margin of 16.97% and earnings of $0.51 per share, missing analyst predictions by $0.03 in its latest quarterly earnings.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday.

Several other research analysts have also commented on the stock. UBS Group raised their price target on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Scotiabank lowered shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target on the stock. in a report on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.92.

Millicom International Cellular Trading Up 1.3%

NASDAQ TIGO opened at $44.67 on Friday. Millicom International Cellular has a 12 month low of $23.61 and a 12 month high of $45.01. The company has a 50-day moving average of $39.09 and a 200-day moving average of $33.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.74. The company has a market cap of $7.69 billion, a P/E ratio of 7.88 and a beta of 1.04.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, equities analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Trading of Millicom International Cellular

Several large investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC acquired a new stake in Millicom International Cellular in the second quarter valued at approximately $201,000. MML Investors Services LLC grew its position in Millicom International Cellular by 19.7% in the second quarter. MML Investors Services LLC now owns 20,067 shares of the technology company's stock valued at $752,000 after acquiring an additional 3,303 shares in the last quarter. Man Group plc acquired a new stake in Millicom International Cellular in the second quarter valued at approximately $3,433,000. Militia Capital Partners LP grew its position in Millicom International Cellular by 8.6% in the second quarter. Militia Capital Partners LP now owns 32,582 shares of the technology company's stock valued at $1,221,000 after acquiring an additional 2,582 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Millicom International Cellular by 376.1% in the second quarter. BNP Paribas Financial Markets now owns 94,417 shares of the technology company's stock valued at $3,538,000 after acquiring an additional 74,584 shares in the last quarter.

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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