Brokerages Set $76.00 Target Price for Millicom International Cellular SA (NASDAQ:TIGO)
Shares of Millicom International Cellular SA (NASDAQ:TIGO) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus price objective of $76.00 for the company and are expecting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also assigned Millicom International Cellular an industry rank of 190 out of 255 based on the ratings given to related companies.
A number of equities research analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of Millicom International Cellular from $83.00 to $76.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Zacks Investment Research downgraded shares of Millicom International Cellular from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th.
Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, July 18th. The company reported ($0.19) earnings per share (EPS) for the quarter. Millicom International Cellular had a net margin of 0.73% and a negative return on equity of 0.95%. The business had revenue of $1.05 billion for the quarter. As a group, equities analysts expect that Millicom International Cellular will post 0.39 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of TIGO. Resources Investment Advisors LLC. bought a new position in Millicom International Cellular in the 2nd quarter worth $28,000. Wells Fargo & Company MN boosted its holdings in Millicom International Cellular by 195.5% in the 2nd quarter. Wells Fargo & Company MN now owns 3,425 shares of the company’s stock worth $191,000 after buying an additional 2,266 shares during the period. Bank of America Corp DE boosted its holdings in Millicom International Cellular by 717.4% in the 2nd quarter. Bank of America Corp DE now owns 9,662 shares of the company’s stock worth $537,000 after buying an additional 8,480 shares during the period. O Brien Greene & Co. Inc bought a new position in Millicom International Cellular in the 2nd quarter worth $613,000. Finally, Morningstar Investment Services LLC bought a new position in Millicom International Cellular in the 2nd quarter worth $681,000. 6.91% of the stock is owned by institutional investors.
About Millicom International Cellular
Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.
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