Wall Street Zen Downgrades Millicom International Cellular (NASDAQ:TIGO) to Buy

Millicom International Cellular (NASDAQ:TIGO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and boosted their price target for the company from $39.50 to $49.00 in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Scotiabank upped their price objective on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a “sector perform” rating in a research 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 research report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.02.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $47.53 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market cap of $8.18 billion, a PE ratio of 8.38 and a beta of 1.09. The business has a 50-day simple moving average of $43.26 and a two-hundred day simple moving average of $36.53. Millicom International Cellular has a fifty-two week low of $23.61 and a fifty-two week high of $50.78.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, equities analysts expect that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

Several large investors have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in Millicom International Cellular during the 2nd quarter valued at about $30,000. State of Wyoming purchased a new position in Millicom International Cellular during the 4th quarter valued at about $49,000. EverSource Wealth Advisors LLC boosted its holdings in Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after acquiring an additional 502 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Millicom International Cellular during the 1st quarter valued at about $84,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Millicom International Cellular by 65.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock valued at $190,000 after acquiring an additional 2,489 shares during the period.

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.