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

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 equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

A number of other equities analysts have also issued reports on the company. Scotiabank raised their target price 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. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, UBS Group cut Millicom International Cellular from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $39.50 to $49.00 in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $42.02.

Millicom International Cellular Stock Performance

Millicom International Cellular stock traded up $0.31 during mid-day trading on Friday, reaching $48.04. 374,030 shares of the company traded hands, compared to its average volume of 945,399. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. Millicom International Cellular has a fifty-two week low of $23.61 and a fifty-two week high of $50.78. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 8.46 and a beta of 1.09. The firm's fifty day moving average is $43.66 and its two-hundred day moving average is $36.89.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued 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). The firm had revenue of $1.37 billion during 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, equities research analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently modified their holdings of the business. Dodge & Cox increased its stake in shares of Millicom International Cellular by 1.5% in the 2nd quarter. Dodge & Cox now owns 8,836,132 shares of the technology company's stock valued at $331,090,000 after purchasing an additional 134,400 shares in the last quarter. Brandes Investment Partners LP increased its stake in shares of Millicom International Cellular by 2.5% in the 2nd quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company's stock valued at $248,228,000 after purchasing an additional 161,861 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Millicom International Cellular by 5,033.3% in the 1st 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 in the last quarter. Boston Partners increased its stake in shares of Millicom International Cellular by 22.1% in the 2nd 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 in the last quarter. Finally, Swedbank AB purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at about $85,909,000.

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.