Millicom International Cellular SA (NASDAQ:TIGO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $77.28.

Several research firms have recently weighed in on TIGO. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Scotiabank lifted their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Friday, March 6th. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Millicom International Cellular

Large investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC increased its holdings in shares of Millicom International Cellular by 15.0% in the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company’s stock worth $6,230,000 after buying an additional 16,695 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Millicom International Cellular by 4.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock worth $22,951,000 after acquiring an additional 16,126 shares in the last quarter. Assetmark Inc. grew its position in Millicom International Cellular by 31.1% in the fourth quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock worth $4,716,000 after acquiring an additional 20,194 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Millicom International Cellular in the third quarter valued at $1,539,000. Finally, Causeway Capital Management LLC purchased a new stake in Millicom International Cellular during the third quarter valued at about $1,845,000.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $90.49 on Thursday. Millicom International Cellular has a 1-year low of $36.59 and a 1-year high of $94.73. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The stock has a market cap of $15.29 billion, a PE ratio of 12.29 and a beta of 0.91. The stock’s fifty day simple moving average is $85.25 and its two-hundred day simple moving average is $72.75.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. As a group, analysts forecast that Millicom International Cellular will post 1.78 EPS for the current fiscal year.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.