Millicom International Cellular (NASDAQ:TIGO) Upgraded at UBS Group

UBS Group upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a neutral rating to a buy rating in a report published on Thursday morning, Marketbeat Ratings reports. They currently have $70.00 price objective on the technology company’s stock, up from their prior price objective of $49.00.

Several other equities analysts also recently commented on the stock. Scotiabank upped their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Two investment 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 company. According to data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average target price of $46.97.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $58.71 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 0.93. Millicom International Cellular has a fifty-two week low of $25.50 and a fifty-two week high of $58.85. The firm has a market cap of $10.10 billion, a PE ratio of 8.99 and a beta of 0.94. The business has a 50 day moving average price of $53.07 and a 200-day moving average price of $47.81.

Millicom International Cellular (NASDAQ:TIGO) last issued its 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). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Millicom International Cellular by 48.1% during the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after purchasing an additional 14,990 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Millicom International Cellular in the 1st quarter worth approximately $8,504,000.

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.