Millicom International Cellular (NASDAQ:TIGO) Coverage Initiated by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley assumed coverage on shares of Millicom International Cellular (NASDAQ:TIGO) in a research note issued on Wednesday, Marketbeat reports. The brokerage set an “equal weight” rating and a $32.00 price target on the technology company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 17.60% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, January 22nd. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $32.22.

Millicom International Cellular Trading Down 0.8 %

Shares of TIGO stock opened at $27.21 on Wednesday. The firm has a fifty day moving average price of $25.52 and a 200-day moving average price of $26.10. Millicom International Cellular has a 1 year low of $15.55 and a 1 year high of $28.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 28.95 and a beta of 1.17.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. As a group, equities analysts predict that Millicom International Cellular will post 2.05 earnings per share for the current year.

Institutional Trading of Millicom International Cellular

Several hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of Millicom International Cellular by 5.7% during the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock valued at $2,554,000 after acquiring an additional 5,624 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Millicom International Cellular during the second quarter worth about $884,000. AQR Capital Management LLC purchased a new position in shares of Millicom International Cellular during the 2nd quarter valued at approximately $215,000. Millennium Management LLC increased its holdings in Millicom International Cellular by 138.9% in the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after buying an additional 157,205 shares in the last quarter. Finally, Simplicity Wealth LLC raised its holdings in Millicom International Cellular by 3.4% in the 3rd quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock worth $490,000 after purchasing an additional 600 shares during the period.

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.