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

Key Points

• Millicom International Cellular was upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, reflecting increased analyst confidence in the company's stock.
• Several brokerages have raised their price targets for Millicom, with Scotiabank increasing it from $37.00 to $46.10 and JPMorgan raising it from $50.00 to $55.00.
• Millicom recently reported a net margin of 16.97% and a revenue of $1.37 billion, slightly below analyst estimates, signaling mixed performance amid positive rating upgrades.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday.

TIGO has been the topic of a number of other reports. UBS Group boosted their price target on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Scotiabank upped their target price 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. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. upped 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. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.43.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock traded down $0.28 during midday trading on Monday, hitting $48.31. The company had a trading volume of 787,126 shares, compared to its average volume of 1,202,649. Millicom International Cellular has a 1-year low of $23.61 and a 1-year high of $48.92. The business's 50 day simple moving average is $41.08 and its two-hundred day simple moving average is $35.14. The stock has a market cap of $8.31 billion, a PE ratio of 8.52 and a beta of 1.04. 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 (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. As a group, equities analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Millicom International Cellular by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after purchasing an additional 1,500 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after acquiring an additional 2,055 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Millicom International Cellular by 37.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock worth $2,720,000 after acquiring an additional 29,730 shares during the last quarter. Park West Asset Management LLC bought a new stake in shares of Millicom International Cellular in the 4th quarter valued at $6,165,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Millicom International Cellular by 65.1% in the 4th quarter. Lazard Asset Management LLC now owns 45,789 shares of the technology company's stock valued at $1,145,000 after purchasing an additional 18,059 shares during the last quarter.

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.