Millicom International Cellular (NASDAQ:TIGO) Upgraded at Scotiabank

Scotiabank upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a sector perform rating to a sector outperform rating in a research report released on Friday, Marketbeat.com reports. They currently have $37.30 price objective on the technology company’s stock, up from their prior price objective of $30.00.

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

Millicom International Cellular Price Performance

TIGO opened at $27.84 on Friday. The firm has a 50-day moving average price of $25.80 and a 200-day moving average price of $23.38. Millicom International Cellular has a twelve month low of $14.46 and a twelve month high of $27.84. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $2.83 billion, a price-to-earnings 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 business had revenue of $1.46 billion during the quarter. During the same period last year, the company earned ($0.13) EPS. Equities analysts expect that Millicom International Cellular will post 2.33 EPS for the current year.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of Millicom International Cellular by 138.9% during the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after buying an additional 157,205 shares in the last quarter. Morningstar Investment Services LLC raised its position in Millicom International Cellular by 105.6% during the fourth quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock valued at $4,474,000 after purchasing an additional 126,679 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Millicom International Cellular by 35.4% during the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after purchasing an additional 83,939 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Millicom International Cellular in the 1st quarter worth about $1,216,000. Finally, Optiver Holding B.V. increased its position in shares of Millicom International Cellular by 216.0% during the 4th quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock valued at $1,019,000 after purchasing an additional 38,697 shares during the last quarter.

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.