Millicom International Cellular (NASDAQ:TIGO) Cut to Neutral at UBS Group

Millicom International Cellular (NASDAQ:TIGO) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a report released on Tuesday. They currently have a $90.00 target price on the technology company’s stock. UBS Group’s price target points to a potential upside of 4.85% from the stock’s current price.

Several other equities analysts have also commented on the company. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Friday, March 6th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Scotiabank increased their price objective on Millicom International Cellular from $43.00 to $51.20 and gave the company a “sector underperform” rating in a research report on Monday, March 30th. Finally, Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.04.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $85.84 on Tuesday. The firm has a market capitalization of $14.51 billion, a P/E ratio of 11.66 and a beta of 0.93. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock’s 50-day simple moving average is $79.91 and its two-hundred day simple moving average is $65.92. Millicom International Cellular has a twelve month low of $35.49 and a twelve month high of $86.93.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. As a group, equities analysts anticipate that Millicom International Cellular will post 3.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Millicom International Cellular by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after buying an additional 139 shares during the period. EWA LLC lifted its stake in shares of Millicom International Cellular by 2.5% in the 4th quarter. EWA LLC now owns 7,025 shares of the technology company’s stock valued at $389,000 after purchasing an additional 169 shares during the period. Altshuler Shaham Ltd lifted its stake in shares of Millicom International Cellular by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock valued at $47,000 after purchasing an additional 170 shares during the period. Vident Advisory LLC lifted its stake in shares of Millicom International Cellular by 2.3% in the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock valued at $635,000 after purchasing an additional 254 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after purchasing an additional 314 shares during the period.

About Millicom International Cellular

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.