Millicom International Cellular (NASDAQ:TIGO) Downgraded by Wall Street Zen to "Buy"

Key Points

• Millicom International Cellular's stock rating has been downgraded from a "strong-buy" to a "buy" by Wall Street Zen, amid mixed ratings from analysts.
• The company's recent quarterly earnings report revealed an EPS of $0.51, falling short of the expected $0.54, with revenue also lower than anticipated.
• Analysts have varied price targets for Millicom, with a current average price target estimated at $42.02, reflecting an overall sentiment of "Moderate Buy."

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

A number of other research firms have also commented on TIGO. Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Scotiabank upped their price objective on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research note on Tuesday, August 19th. UBS Group lowered shares of 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 research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.02.

Millicom International Cellular Trading Down 0.5%

TIGO stock traded down $0.24 during mid-day trading on Friday, reaching $48.06. 914,025 shares of the stock traded hands, compared to its average volume of 1,110,190. 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 52-week low of $23.61 and a 52-week high of $50.78. The company has a market cap of $8.27 billion, a P/E ratio of 8.48 and a beta of 1.09. The stock's fifty day moving average is $44.10 and its 200-day moving average is $37.12.

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 firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. As a group, sell-side analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current year.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dodge & Cox raised its position in Millicom International Cellular by 1.5% during the second quarter. Dodge & Cox now owns 8,836,132 shares of the technology company's stock valued at $331,090,000 after acquiring an additional 134,400 shares in the last quarter. Brandes Investment Partners LP raised its position in Millicom International Cellular by 2.5% during the second quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company's stock valued at $248,228,000 after acquiring an additional 161,861 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Millicom International Cellular by 5,033.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock valued at $168,874,000 after purchasing an additional 5,470,214 shares during the last quarter. Boston Partners grew its holdings in Millicom International Cellular by 22.1% during the second quarter. Boston Partners now owns 2,956,476 shares of the technology company's stock valued at $110,779,000 after purchasing an additional 535,399 shares during the last quarter. Finally, Swedbank AB acquired a new position in Millicom International Cellular during the first quarter valued at approximately $85,909,000.

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.