Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High on Analyst Upgrade

Millicom International Cellular SA (NASDAQ:TIGO)’s share price hit a new 52-week high during trading on Friday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $70.00 price target on the stock, up from their previous price target of $49.00. Millicom International Cellular traded as high as $57.65 and last traded at $57.56, with a volume of 558380 shares. The stock had previously closed at $56.03.

A number of other analysts also recently commented on TIGO. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Scotiabank lifted their price target on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and an average price target of $46.97.

Institutional Trading of Millicom International Cellular

A number of hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its position in shares of Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after buying an additional 314 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Millicom International Cellular in the 3rd quarter worth about $26,000. Blue Trust Inc. boosted its position in Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares during the period. Alpine Bank Wealth Management acquired a new stake in Millicom International Cellular during the 3rd quarter worth about $28,000. Finally, Spire Wealth Management purchased a new position in Millicom International Cellular during the 4th quarter valued at about $29,000.

Millicom International Cellular Stock Up 2.8%

The business has a fifty day moving average price of $52.84 and a two-hundred day moving average price of $47.59. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 8.82 and a beta of 0.94.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.21). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.