Millicom International Cellular (NASDAQ:TIGO) Downgraded by Scotiabank to Sector Perform

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) was downgraded by equities research analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a report released on Tuesday, MarketBeat Ratings reports. They presently have a $37.00 price objective on the technology company's stock. Scotiabank's price objective would suggest a potential upside of 2.98% from the stock's current price.

Several other analysts also recently weighed in on the company. UBS Group raised their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Barclays lowered their price objective on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.08.

Millicom International Cellular Stock Down 2.9%

NASDAQ TIGO traded down $1.06 on Tuesday, reaching $35.93. The company had a trading volume of 1,013,315 shares, compared to its average volume of 420,705. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.76 and a quick ratio of 0.74. Millicom International Cellular has a 1 year low of $22.59 and a 1 year high of $38.50. The firm has a 50-day moving average of $34.92 and a 200-day moving average of $29.72. The firm has a market capitalization of $6.18 billion, a PE ratio of 17.27 and a beta of 1.08.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the company. Militia Capital Partners LP bought a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $908,000. Acadian Asset Management LLC acquired a new position in Millicom International Cellular in the first quarter worth $819,000. Jane Street Group LLC bought a new stake in Millicom International Cellular during the first quarter valued at $928,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Millicom International Cellular in the 1st quarter valued at about $8,504,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular during the 1st quarter valued at about $50,664,000.

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.