Brokerages Set $83.00 Price Target for Millicom International Cellular SA (NASDAQ:TIGO)

Millicom International Cellular SA (NASDAQ:TIGO) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus price objective of $83.00 for the company, according to Zacks. Zacks has also assigned Millicom International Cellular an industry rank of 220 out of 256 based on the ratings given to related companies.

Several research analysts recently issued reports on TIGO shares. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research lowered shares of Millicom International Cellular from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th.

A number of large investors have recently bought and sold shares of the stock. O Brien Greene & Co. Inc acquired a new position in Millicom International Cellular in the second quarter worth about $613,000. Royal Bank of Canada raised its position in Millicom International Cellular by 35.4% in the second quarter. Royal Bank of Canada now owns 24,500 shares of the company’s stock worth $1,365,000 after purchasing an additional 6,400 shares in the last quarter. Jane Street Group LLC acquired a new position in Millicom International Cellular in the second quarter worth about $2,989,000. Morgan Stanley raised its position in Millicom International Cellular by 6,530.7% in the second quarter. Morgan Stanley now owns 221,996 shares of the company’s stock worth $12,366,000 after purchasing an additional 218,648 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Millicom International Cellular by 717.4% in the second quarter. Bank of America Corp DE now owns 9,662 shares of the company’s stock worth $537,000 after purchasing an additional 8,480 shares in the last quarter. 6.91% of the stock is owned by hedge funds and other institutional investors.

Shares of TIGO traded up $0.56 during trading hours on Friday, reaching $51.39. 64,770 shares of the company traded hands, compared to its average volume of 34,742. The stock’s fifty day moving average is $50.54 and its 200 day moving average is $55.91. The stock has a market cap of $5.12 billion, a P/E ratio of 177.21 and a beta of 0.71. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.77 and a current ratio of 0.79. Millicom International Cellular has a 1-year low of $48.65 and a 1-year high of $74.71.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, July 18th. The company reported ($0.19) EPS for the quarter. The company had revenue of $1.05 billion for the quarter. Millicom International Cellular had a net margin of 0.73% and a negative return on equity of 0.95%. On average, equities research analysts predict that Millicom International Cellular will post 0.26 EPS for the current year.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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