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

Key Points

• Millicom International Cellular SA has received a consensus rating of "Moderate Buy" from eight brokerages, with four hold, two buy, and two strong buy recommendations.
• The average price target for Millicom shares is approximately $42.02, with the company's stock recently trading at around $48.65.
• Millicom reported earnings of $0.51 per share last quarter, missing the consensus estimate, with revenue of $1.37 billion compared to expectations of $1.40 billion.

Shares of Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $42.0167.

Several analysts have issued reports on TIGO shares. Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Scotiabank increased their target price on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday, August 19th. UBS Group downgraded shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $39.50 to $49.00 in a research note on Thursday, September 11th. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Finally, JPMorgan Chase & Co. boosted their target price on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $48.65 on Tuesday. The company's fifty day moving average price is $44.53 and its 200-day moving average price is $37.56. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 8.58 and a beta of 1.08. Millicom International Cellular has a one year low of $23.61 and a one year high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results 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 firm 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%. On average, equities research analysts anticipate that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Institutional Trading of Millicom International Cellular

A number of institutional investors have recently made changes to their positions in TIGO. Dodge & Cox increased its stake in shares of Millicom International Cellular by 1.5% in the second quarter. Dodge & Cox now owns 8,836,132 shares of the technology company's stock worth $331,090,000 after buying an additional 134,400 shares during the period. Brandes Investment Partners LP grew its holdings in 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 worth $248,228,000 after acquiring an additional 161,861 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Millicom International Cellular by 5,033.3% in the first 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 acquiring an additional 5,470,214 shares during the period. Boston Partners boosted its holdings in shares of 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 period. Finally, Swedbank AB purchased a new stake in shares of Millicom International Cellular during the first quarter worth 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.

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