Millicom International Cellular SA (NASDAQ:TIGO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $80.82.

Several brokerages have commented on TIGO. Wall Street Zen lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Millicom International Cellular in a research report on Friday, August 7th. UBS Group increased their price objective on Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, Scotiabank lifted their target price on Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research note on Friday, August 7th.

Insiders Place Their Bets

In other news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the sale, the insider owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 50,140 shares of company stock valued at $4,425,461 in the last three months. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP grew its position in Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after buying an additional 418 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at $26,000. Versant Capital Management Inc boosted its stake in shares of Millicom International Cellular by 896.7% during the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after acquiring an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after acquiring an additional 502 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Millicom International Cellular in the 4th quarter worth $61,000.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $94.23 on Friday. The company has a market cap of $15.92 billion, a PE ratio of 23.80 and a beta of 0.91. Millicom International Cellular has a fifty-two week low of $43.70 and a fifty-two week high of $107.13. The firm has a 50-day simple moving average of $92.82 and a 200 day simple moving average of $81.64. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 18.39% and a net margin of 9.19%.The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, sell-side analysts anticipate that Millicom International Cellular will post 1.78 EPS 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.