Zacks Investment Research lowered shares of Millicom International Cellular SA (NASDAQ:MIICF) from a hold rating to a strong sell rating in a research report released on Tuesday morning.

According to Zacks, “MILLICOM INTL is a leading international operator of cellular telephony services, primarily in emerging markets where the basic telephone service is often inadequate and where economic development and change are creating new demand for communication services. MIC has sought to establish an early presence in markets with little or no cellular service by applying for cellular licenses, primarily through joint ventures with prominent local business partners. “

Shares of Millicom International Cellular SA (NASDAQ:MIICF) opened at 50.50 on Tuesday. The stock’s 50 day moving average price is $53.57 and its 200 day moving average price is $55.66. The stock’s market capitalization is $5.07 billion. Millicom International Cellular SA has a one year low of $39.80 and a one year high of $65.74.

Millicom International Cellular SA (NASDAQ:MIICF) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.04 earnings per share for the quarter. Equities research analysts predict that Millicom International Cellular SA will post $2.02 EPS for the current fiscal year.

About Millicom International Cellular SA

Millicom International Cellular SA is an international telecommunications and media company providing digital lifestyle services through mobile and fixed telephony, cable, broadband and investments in online businesses in Latin America and Africa. The Company’s segments are Central America, South America, Latin America and Africa.

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