Millicom International Cellular SA (NASDAQ:TIGO) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Millicom International Cellular SA (NASDAQ:TIGO) has received an average rating of "Moderate Buy" from brokerages, with three holds, three buys, and two strong buys among the eight firms covering the stock.
• JPMorgan Chase & Co. recently raised its price target for TIGO from $50 to $55, while UBS Group increased its target from $31.50 to $39.50, reflecting positive sentiment for the company's performance.
• Millicom reported a quarterly earnings miss with an EPS of $0.51 against an expected $0.54, and revenue of $1.37 billion below the consensus estimate of $1.40 billion.

Shares of Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $40.4333.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised 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 report on Thursday, August 14th. Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Scotiabank raised their price target on Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday, August 19th. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, UBS Group raised their price target on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a report on Friday, May 16th.

Institutional Trading of Millicom International Cellular

Several hedge funds have recently modified their holdings of the business. Dodge & Cox raised its holdings 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 worth $331,090,000 after purchasing an additional 134,400 shares during the last quarter. Brandes Investment Partners LP raised its holdings 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 worth $248,228,000 after purchasing an additional 161,861 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 worth $168,874,000 after purchasing an additional 5,470,214 shares during the last quarter. Boston Partners raised 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 worth $110,779,000 after purchasing an additional 535,399 shares during the last quarter. Finally, Swedbank AB purchased a new position in Millicom International Cellular during the first quarter worth $85,909,000.

Millicom International Cellular Stock Performance

TIGO traded down $0.28 on Friday, hitting $48.31. 787,126 shares of the company traded hands, compared to its average volume of 1,206,792. Millicom International Cellular has a 12-month low of $23.61 and a 12-month high of $48.92. The company has a 50 day moving average of $41.08 and a 200-day moving average of $35.19. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $8.31 billion, a PE ratio of 22.47 and a beta of 1.08.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate 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. Sell-side analysts anticipate that Millicom International Cellular will post 1.91 earnings per share for the current year.

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.