Millicom International Cellular (NASDAQ:TIGO) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Millicom International Cellular's rating was upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increased analyst confidence in the stock.
• Despite the upgrade, Zacks Research downgraded Millicom from a "strong-buy" to a "hold," reflecting mixed opinions among analysts regarding the stock's potential.
• Millicom reported $1.37 billion in revenue for the latest quarter, missing analyst expectations, and reported earnings per share of $0.51, falling short of the consensus estimate of $0.54.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

A number of other analysts also recently weighed in on TIGO. Zacks Research downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Millicom International Cellular in a research report on Wednesday. UBS Group downgraded shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and increased their price target for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Scotiabank increased their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $42.02.

Millicom International Cellular Stock Performance

Millicom International Cellular stock opened at $47.62 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 1 year low of $23.61 and a 1 year high of $50.78. The company has a market cap of $8.20 billion, a PE ratio of 8.40 and a beta of 1.11. The company's 50-day moving average is $46.73 and its two-hundred day moving average is $39.19.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Equities analysts anticipate that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Trading of Millicom International Cellular

A number of large investors have recently bought and sold shares of the business. USA Financial Formulas increased its stake in Millicom International Cellular by 569.2% during the 3rd quarter. USA Financial Formulas now owns 5,374 shares of the technology company's stock worth $261,000 after purchasing an additional 4,571 shares in the last quarter. Perpetual Ltd increased its stake in Millicom International Cellular by 5,283.2% during the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company's stock worth $132,610,000 after purchasing an additional 2,681,221 shares in the last quarter. Carolina Wealth Advisors LLC bought a new stake in Millicom International Cellular during the 3rd quarter worth approximately $59,000. Oak Thistle LLC bought a new stake in Millicom International Cellular during the 3rd quarter worth approximately $2,000,000. Finally, Osaic Holdings Inc. increased its stake in Millicom International Cellular by 1,981.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,973 shares of the technology company's stock worth $216,000 after purchasing an additional 5,686 shares in the last quarter.

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.

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