Millicom International Cellular SA (NASDAQ:TIGO) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Millicom International Cellular has a consensus analyst rating of "Hold" from seven brokerages, with a mix of two sell ratings, three buy ratings, one strong buy, and one hold. The average 12-month price target is $79.28.
• The stock recently traded at $98.34, near its 52-week high of $100.08, and the company has a market cap of $16.62 billion. Its shares have also outperformed the 200-day moving average, while leverage remains notable with a debt-to-equity ratio of 2.33.
• Millicom beat earnings expectations in its latest quarter, reporting $0.97 EPS versus estimates of $0.89, while revenue matched forecasts at $1.99 billion. Insider Salvador Escalon also sold 49,288 shares in June, and several recent analyst notes have adjusted ratings and price targets, mostly around the $100 level.

Shares of Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) have been assigned a consensus rating of "Hold" from the seven brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $79.28.

Several research analysts have recently commented on TIGO shares. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Wall Street Zen lowered shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, May 13th. UBS Group lifted their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, Zacks Research lowered shares of Millicom International Cellular from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $98.34 on Monday. Millicom International Cellular has a 1 year low of $38.96 and a 1 year high of $100.08. The firm has a fifty day moving average price of $88.19 and a 200-day moving average price of $76.26. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 13.36 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. As a group, equities analysts predict that Millicom International Cellular will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the transaction, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 50,140 shares of company stock worth $4,425,461. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Millicom International Cellular

Large investors have recently made changes to their positions in the business. Allworth Financial LP grew its position in shares of Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company's stock worth $25,000 after purchasing an additional 418 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Millicom International Cellular in the 4th quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock worth $27,000 after purchasing an additional 427 shares during the period. Versant Capital Management Inc boosted its stake in Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company's stock worth $27,000 after purchasing an additional 269 shares during the period. Finally, Spire Wealth Management purchased a new stake in Millicom International Cellular during the 4th quarter valued at approximately $29,000.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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