Scotiabank Boosts Millicom International Cellular (NASDAQ:TIGO) Price Target to $46.10

Key Points

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Millicom International Cellular (NASDAQ:TIGO - Get Free Report) had its price target boosted by analysts at Scotiabank from $37.00 to $46.10 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the technology company's stock. Scotiabank's price target would indicate a potential upside of 2.63% from the stock's previous close.

TIGO has been the subject of several other reports. Wall Street Zen cut shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Sunday. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday. UBS Group boosted their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.43.

Millicom International Cellular Stock Up 0.6%

TIGO opened at $44.92 on Tuesday. Millicom International Cellular has a 12 month low of $23.61 and a 12 month high of $45.51. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The company has a market cap of $7.73 billion, a PE ratio of 7.92 and a beta of 1.04. The company has a 50 day moving average of $39.27 and a 200 day moving average of $33.92.

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 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 analysts' expectations of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. On average, sell-side analysts expect that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIGO. Segall Bryant & Hamill LLC grew its holdings in Millicom International Cellular by 0.3% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company's stock valued at $3,656,000 after buying an additional 300 shares during the period. AQR Capital Management LLC raised its position in shares of Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock valued at $290,000 after purchasing an additional 453 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company's stock valued at $53,000 after purchasing an additional 502 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Millicom International Cellular by 4.7% in the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock valued at $339,000 after acquiring an additional 508 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC increased its holdings in shares of Millicom International Cellular by 1.0% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 63,416 shares of the technology company's stock valued at $2,376,000 after acquiring an additional 609 shares during the last quarter.

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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