Millicom International Cellular (NASDAQ:TIGO) Rating Lowered to "Neutral" at 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.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) was downgraded by UBS Group from a "buy" rating to a "neutral" rating in a report released on Thursday,Finviz reports. They currently have a $49.00 price target on the technology company's stock. UBS Group's price objective indicates a potential upside of 2.15% from the company's current price.

TIGO has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price 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. Scotiabank raised their price objective on Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research note on Tuesday, August 19th. Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Trading Up 0.3%

Shares of NASDAQ:TIGO opened at $47.97 on Thursday. Millicom International Cellular has a 52-week low of $23.61 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market capitalization of $8.26 billion, a P/E ratio of 8.46 and a beta of 1.09. The company has a 50-day simple moving average of $42.88 and a 200 day simple moving average of $36.26.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly 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 company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. Sell-side analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current year.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners bought a new stake in Millicom International Cellular in the 1st quarter valued at about $73,286,000. Teacher Retirement System of Texas purchased a new stake in shares of Millicom International Cellular in the first quarter worth approximately $1,402,000. KBC Group NV purchased a new stake in Millicom International Cellular in the 1st quarter valued at $233,000. CWA Asset Management Group LLC lifted its position in shares of Millicom International Cellular by 34.3% during the first quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock valued at $373,000 after purchasing an additional 3,141 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Millicom International Cellular in the 1st quarter worth approximately $1,648,000.

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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