Millicom International Cellular (NASDAQ:TIGO) Lowered to Neutral Rating by UBS Group

Key Points

• Millicom International Cellular (NASDAQ:TIGO) was downgraded from "buy" to "neutral" by UBS Group, with a new price target of $49.00, suggesting a potential upside of 2.15% from the current price.
• Despite the downgrade, other analysts are optimistic, with JPMorgan raising their target price to $55.00 and Zacks Research upgrading the stock to a "strong-buy" rating.
• The company reported earnings of $0.51 EPS in its latest quarter, missing analyst estimates and recording a revenue of $1.37 billion.

UBS Group lowered shares of Millicom International Cellular (NASDAQ:TIGO - Free Report) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $49.00 target price on the technology company's stock, up from their prior target price of $39.50.

A number of other research firms also recently weighed in on TIGO. JPMorgan Chase & Co. raised their price target on shares of 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 raised shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Monday, August 25th. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Scotiabank boosted their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. 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 Up 0.1%

Shares of NASDAQ TIGO traded up $0.03 during midday trading on Thursday, reaching $47.68. 356,939 shares of the company's stock traded hands, compared to its average volume of 945,304. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 8.42 and a beta of 1.08. The stock's 50 day simple moving average is $43.45 and its 200-day simple moving average is $36.81. Millicom International Cellular has a one year low of $23.61 and a one year high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. On average, analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its position in shares of Millicom International Cellular by 1,981.2% in the second quarter. Osaic Holdings Inc. now owns 5,973 shares of the technology company's stock valued at $216,000 after purchasing an additional 5,686 shares during the last quarter. Orion Porfolio Solutions LLC bought a new stake in shares of Millicom International Cellular during the 2nd quarter valued at about $201,000. Thrivent Financial for Lutherans bought a new stake in Millicom International Cellular in the second quarter valued at $203,000. State of Wyoming grew its position in Millicom International Cellular by 123.4% in the 2nd quarter. State of Wyoming now owns 4,655 shares of the technology company's stock worth $174,000 after purchasing an additional 2,571 shares during the last quarter. Finally, MML Investors Services LLC raised 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 worth $752,000 after acquiring an additional 3,303 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.