Millicom International Cellular (NASDAQ:TIGO) Upgraded at Wall Street Zen

Key Points

• Millicom International Cellular (NASDAQ:TIGO) has been upgraded by Wall Street Zen to a "strong-buy" rating, indicating increased confidence from analysts in its stock performance.
• UBS Group raised its price target for TIGO shares from $31.50 to $39.50, while JPMorgan Chase increased it from $41.00 to $50.00, reflecting positive outlooks from major investment firms.
• Despite recent upgrades, Millicom reported an earnings miss for the last quarter, with an EPS of $0.51 against the consensus estimate of $0.54, highlighting ongoing challenges within the company.

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

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. UBS Group lifted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Scotiabank downgraded Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price on the stock. in a research report on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.08.

Millicom International Cellular Trading Up 1.6%

Millicom International Cellular stock traded up $0.70 during trading on Friday, reaching $44.21. 547,686 shares of the company were exchanged, compared to its average volume of 914,389. Millicom International Cellular has a 52-week low of $23.61 and a 52-week high of $44.38. The company has a market capitalization of $7.61 billion, a P/E ratio of 7.81 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 0.74. The stock's 50 day simple moving average is $38.63 and its two-hundred day simple moving average is $33.40.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced 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 return on equity of 10.32% and a net margin of 16.97%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. On average, equities research analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund acquired a new stake in shares of Millicom International Cellular in the second quarter valued at $1,548,000. Mackenzie Financial Corp acquired a new stake in shares of Millicom International Cellular in the second quarter valued at $19,643,000. Hsbc Holdings PLC acquired a new stake in shares of Millicom International Cellular in the second quarter valued at $789,000. Russell Investments Group Ltd. grew its stake in shares of Millicom International Cellular by 6.8% in the second quarter. Russell Investments Group Ltd. now owns 26,847 shares of the technology company's stock valued at $1,006,000 after buying an additional 1,700 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of Millicom International Cellular in the second quarter valued at $842,000.

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.