Millicom International Cellular’s (TIGO) Sector Perform Rating Reiterated at Scotiabank

Millicom International Cellular (NASDAQ:TIGO)‘s stock had its “sector perform” rating reiterated by equities researchers at Scotiabank in a research note issued on Wednesday, Benzinga reports. They currently have a $30.00 price objective on the technology company’s stock. Scotiabank’s target price would indicate a potential upside of 18.20% from the company’s previous close.

TIGO has been the subject of a number of other research reports. HSBC cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. began coverage on Millicom International Cellular in a report on Tuesday, May 28th. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Hsbc Global Res cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Millicom International Cellular Price Performance

Shares of TIGO opened at $25.38 on Wednesday. The stock has a market cap of $2.58 billion, a P/E ratio of 507.60 and a beta of 1.22. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $26.20. The stock’s 50-day moving average price is $24.44 and its two-hundred day moving average price is $21.14. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 1.74.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Friday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.05). The firm had revenue of $1.46 billion for the quarter. Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%. During the same quarter last year, the firm earned ($0.13) earnings per share.

Institutional Trading of Millicom International Cellular

A number of institutional investors have recently modified their holdings of the company. Atlas Capital Advisors LLC acquired a new stake in Millicom International Cellular in the 2nd quarter valued at approximately $372,000. Signaturefd LLC grew its stake in shares of Millicom International Cellular by 217.9% during the 2nd quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock worth $28,000 after acquiring an additional 780 shares in the last quarter. LB Partners LLC raised its holdings in shares of Millicom International Cellular by 0.4% in the second quarter. LB Partners LLC now owns 502,000 shares of the technology company’s stock valued at $12,324,000 after purchasing an additional 2,000 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Millicom International Cellular in the second quarter worth $98,000. Finally, Fifth Third Bancorp bought a new stake in shares of Millicom International Cellular in the second quarter worth $67,000.

Millicom International Cellular Company Profile

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.