Millicom International Cellular (NASDAQ:TIGO) Rating Lowered to Hold at HSBC

Millicom International Cellular (NASDAQ:TIGO) was downgraded by equities research analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat.com reports.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank raised their price objective on shares of Millicom International Cellular from $26.80 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a research report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Millicom International Cellular Price Performance

NASDAQ TIGO opened at $24.95 on Tuesday. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $25.60. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.84 and a current ratio of 0.86. The company has a fifty day moving average of $23.37 and a 200 day moving average of $20.05.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $1.49 billion during the quarter. Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%. On average, research analysts anticipate that Millicom International Cellular will post 2.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TIGO. LB Partners LLC purchased a new position in Millicom International Cellular during the fourth quarter valued at $9,000,000. Morningstar Investment Services LLC raised its position in shares of Millicom International Cellular by 105.6% during the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after purchasing an additional 126,679 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Millicom International Cellular in the 1st quarter valued at about $1,216,000. Schonfeld Strategic Advisors LLC acquired a new stake in Millicom International Cellular in the 3rd quarter worth about $627,000. Finally, Optiver Holding B.V. increased its stake in Millicom International Cellular by 216.0% during the 4th quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock worth $1,019,000 after buying an additional 38,697 shares in the last quarter.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.