Millicom International Cellular (NASDAQ:TIGO) Upgraded by Hsbc Global Res to Strong-Buy Rating

Millicom International Cellular (NASDAQ:TIGO) was upgraded by equities research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

TIGO has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.26.

Millicom International Cellular Trading Up 1.2 %

Shares of TIGO stock opened at $27.78 on Wednesday. The firm has a 50-day moving average price of $25.36 and a 200 day moving average price of $25.99. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 12-month low of $15.55 and a 12-month high of $28.75. The company has a market capitalization of $4.78 billion, a P/E ratio of 29.55 and a beta of 1.17.

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 period last year, the company earned ($0.03) EPS. The company’s revenue was up .5% compared to the same quarter last year. Research analysts forecast that Millicom International Cellular will post 2.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TIGO. Blue Trust Inc. lifted its stake 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 valued at $60,000 after buying an additional 1,367 shares in the last quarter. National Bank of Canada FI purchased a new stake in Millicom International Cellular in the third quarter valued at approximately $76,000. Point72 Asset Management L.P. purchased a new stake in shares of Millicom International Cellular during the 3rd quarter valued at $87,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Millicom International Cellular during the third quarter worth about $168,000. Finally, AQR Capital Management LLC purchased a new stake in Millicom International Cellular in the second quarter worth approximately $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.