HSBC Downgrades Millicom International Cellular (NASDAQ:TIGO) to Hold

Millicom International Cellular (NASDAQ:TIGO) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued on Tuesday, MarketBeat reports.

Several other equities analysts also recently commented on the stock. Scotiabank boosted their target price on shares of Millicom International Cellular from $26.80 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. started coverage on shares of Millicom International Cellular in a report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Millicom International Cellular Trading Up 1.1 %

NASDAQ:TIGO opened at $24.95 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.74. The company has a 50 day simple moving average of $23.37 and a two-hundred day simple moving average of $20.05. Millicom International Cellular has a 12 month low of $14.46 and a 12 month high of $25.60.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.54 EPS for the quarter. The company had revenue of $1.49 billion during the quarter. Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%. Sell-side analysts expect that Millicom International Cellular will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors have recently bought and sold shares of TIGO. Greytown Advisors Inc. raised its position in shares of Millicom International Cellular by 91.6% during the 4th quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock valued at $827,000 after buying an additional 21,965 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Millicom International Cellular in the 4th quarter valued at approximately $87,000. LWM Advisory Services LLC boosted its holdings in shares of Millicom International Cellular by 152.7% in the 4th quarter. LWM Advisory Services LLC now owns 29,422 shares of the technology company’s stock worth $530,000 after purchasing an additional 17,779 shares during the period. LB Partners LLC bought a new position in shares of Millicom International Cellular during the 4th quarter valued at approximately $9,000,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Millicom International Cellular during the 3rd quarter valued at $627,000.

About Millicom International Cellular

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.