Millicom International Cellular (NASDAQ:TIGO) Rating Increased to Sector Outperform at Scotiabank

Scotiabank upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a sector perform rating to a sector outperform rating in a research note released on Friday morning, MarketBeat Ratings reports. The firm currently has $37.30 price objective on the technology company’s stock, up from their prior price objective of $30.00.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. began coverage on Millicom International Cellular in a report on Friday, September 6th. They set an overweight rating and a $35.00 price target on the stock. Hsbc Global Res downgraded Millicom International Cellular from a strong-buy rating to a hold rating in a report on Tuesday, July 2nd. HSBC lowered Millicom International Cellular from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Finally, UBS Group raised shares of Millicom International Cellular from a neutral rating to a buy rating and boosted their price objective for the company from $25.00 to $33.00 in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $30.66.

Millicom International Cellular Stock Up 1.6 %

TIGO opened at $27.84 on Friday. Millicom International Cellular has a 12 month low of $14.46 and a 12 month high of $27.84. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. The business’s 50-day moving average price is $25.80 and its 200-day moving average price is $23.38. The company has a market cap of $2.83 billion, a P/E ratio of 556.80 and a beta of 1.23.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Friday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The company had revenue of $1.46 billion for the quarter. During the same period in the previous year, the business posted ($0.13) earnings per share. On average, equities analysts expect that Millicom International Cellular will post 2.33 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Signaturefd LLC increased its stake in shares of Millicom International Cellular by 217.9% during the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock valued at $28,000 after purchasing an additional 780 shares in the last quarter. Fifth Third Bancorp bought a new position in Millicom International Cellular during the 2nd quarter valued at approximately $67,000. Summit Securities Group LLC purchased a new position in Millicom International Cellular during the second quarter valued at $98,000. SG Americas Securities LLC boosted its holdings in Millicom International Cellular by 13.1% in the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after acquiring an additional 920 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Millicom International Cellular in the second quarter worth $215,000.

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.