Weiss Ratings Reaffirms Buy (B) Rating for Millicom International Cellular (NASDAQ:TIGO)

Key Points

• Weiss Ratings has reaffirmed a "buy (B)" rating for Millicom International Cellular (NASDAQ:TIGO) amidst mixed sentiments from other analysts.
• JPMorgan increased its price target for TIGO shares from $50.00 to $55.00, while UBS downgraded its rating from "buy" to "neutral," raising their target from $39.50 to $49.00.
• Millicom reported earnings of $0.51 per share, which missed analysts' expectations of $0.54, alongside a revenue of $1.37 billion, below the $1.40 billion consensus.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report)'s stock had its "buy (b)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

TIGO has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. UBS Group downgraded shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and increased their price target for the stock from $39.50 to $49.00 in a research note on Thursday, September 11th. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 3rd. Scotiabank lifted 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. Finally, Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.02.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $47.64 on Wednesday. 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 company has a market cap of $8.20 billion, a P/E ratio of 8.40 and a beta of 1.11. Millicom International Cellular has a fifty-two week low of $23.61 and a fifty-two week high of $50.78. The firm's 50 day moving average is $46.44 and its two-hundred day moving average is $38.95.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 10.32% and a net margin of 16.97%. Analysts expect that Millicom International Cellular will post 1.91 EPS for the current year.

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in Millicom International Cellular in the 2nd quarter worth $30,000. Carolina Wealth Advisors LLC bought a new stake in shares of Millicom International Cellular in the 3rd quarter worth about $59,000. EverSource Wealth Advisors LLC increased 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 worth $53,000 after purchasing an additional 502 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Millicom International Cellular in the 1st quarter worth about $84,000. Finally, State of Wyoming increased its position in shares of Millicom International Cellular by 123.4% in the 2nd quarter. State of Wyoming now owns 4,655 shares of the technology company's stock worth $174,000 after purchasing an additional 2,571 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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