Millicom International Cellular (NASDAQ:TIGO) Hits New 1-Year High After Analyst Upgrade

Millicom International Cellular SA (NASDAQ:TIGO)’s share price hit a new 52-week high during mid-day trading on Monday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $47.33 and last traded at $47.41, with a volume of 1389 shares traded. The stock had previously closed at $47.19.

A number of other equities analysts have also recently issued reports on TIGO. Scotiabank upped their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a “sector perform” rating in a research note on Tuesday, August 19th. UBS Group boosted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the stock a “buy” rating in a research report on Friday, May 16th. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.43.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds have recently bought and sold shares of TIGO. Geode Capital Management LLC raised its position in Millicom International Cellular by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock worth $3,868,000 after buying an additional 1,500 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,055 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Millicom International Cellular by 37.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company’s stock valued at $2,720,000 after purchasing an additional 29,730 shares during the period. Park West Asset Management LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at about $6,165,000. Finally, Lazard Asset Management LLC grew its stake in shares of Millicom International Cellular by 65.1% during the 4th quarter. Lazard Asset Management LLC now owns 45,789 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 18,059 shares during the period.

Millicom International Cellular Trading Up 0.4%

The stock has a 50 day simple moving average of $39.97 and a 200-day simple moving average of $34.46. The firm has a market capitalization of $8.15 billion, a P/E ratio of 8.37 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. On average, equities research analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Company Profile

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.