JPMorgan Chase & Co. Lowers Millicom International Cellular (NASDAQ:TIGO) Price Target to $33.00

Millicom International Cellular (NASDAQ:TIGO) had its target price reduced by analysts at JPMorgan Chase & Co. from $36.00 to $33.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 22.18% from the stock’s previous close.

Separately, Scotiabank upgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $30.00 to $37.30 in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.26.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $27.01 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a 12 month low of $15.55 and a 12 month high of $28.75. The stock’s 50 day moving average price is $25.35 and its 200 day moving average price is $25.94.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Millicom International Cellular will post 1.98 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 stock. Blue Trust Inc. increased its position in shares of Millicom International Cellular by 159.7% in the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after acquiring an additional 1,367 shares in the last quarter. National Bank of Canada FI purchased a new position in Millicom International Cellular during the 3rd quarter worth approximately $76,000. Point72 Asset Management L.P. acquired a new stake in Millicom International Cellular during the 3rd quarter valued at $87,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Millicom International Cellular in the third quarter valued at $168,000. Finally, AQR Capital Management LLC acquired 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.