Millicom International Cellular SA (NASDAQ:TIGO – Get Free Report)’s share price fell 9.2% during trading on Thursday. The company traded as low as $79.38 and last traded at $81.2150. 448,031 shares changed hands during trading, a decline of 67% from the average daily volume of 1,352,749 shares. The stock had previously closed at $89.43.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Millicom International Cellular from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $100.00 to $105.00 in a research note on Tuesday, August 18th. Royal Bank Of Canada set a $105.00 target price on Millicom International Cellular in a research report on Tuesday, August 18th. UBS Group raised Millicom International Cellular from a “hold” rating to a “buy” rating and increased their target price for the stock from $100.00 to $109.00 in a research note on Tuesday. Weiss Ratings cut Millicom International Cellular from a “buy (b+)” rating to a “hold (c+)” rating in a report on Monday. Finally, Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 4th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.18.
Read Our Latest Research Report on TIGO
Millicom International Cellular Price Performance
The company has a debt-to-equity ratio of 3.41, a current ratio of 0.55 and a quick ratio of 0.51. The company’s 50 day moving average is $87.07 and its 200 day moving average is $83.71. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 24.23 and a beta of 1.00.
Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last issued its earnings results on Thursday, November 5th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.40). Millicom International Cellular had a return on equity of 21.45% and a net margin of 7.02%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. Research analysts forecast that Millicom International Cellular SA will post 4.14 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Millicom International Cellular
Several hedge funds and other institutional investors have recently bought and sold shares of TIGO. Cullen Capital Management LLC acquired a new stake in Millicom International Cellular in the second quarter valued at $71,258,000. Bank of New York Mellon Corp acquired a new position in shares of Millicom International Cellular during the 2nd quarter worth $45,791,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Millicom International Cellular in the 2nd quarter worth about $33,503,000. Amundi boosted its position in shares of Millicom International Cellular by 120.8% in the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after buying an additional 289,913 shares in the last quarter. Finally, SEB Asset Management AB acquired a new stake in Millicom International Cellular in the 1st quarter valued at about $11,220,000.
Millicom International Cellular Company Profile
Millicom International Cellular is a telecommunications company that serves consumers, households and businesses in Latin America under the Tigo brand. Its services include mobile voice and data, fixed broadband and pay television. The company also provides digital and enterprise services, including connectivity and related technology solutions for businesses. Its operations span multiple Latin American markets, with offerings tailored to local consumer and business needs. Founded in 1990, Millicom has developed from an international mobile operator into a provider of integrated telecommunications and digital services.
Featured Articles
- Five stocks we like better than Millicom International Cellular
- 3 Pharmaceutical Stocks That Offer Safety and Growth
- If Japan’s Stock Market Rally Returns, These 3 ETFs Could Benefit
- CoreWeave’s Backlog Is Surging—Can the Stock Follow?
- Tesla’s Plan to End Cybertruck Reveals Its Real Priorities
Receive News & Ratings for Millicom International Cellular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Millicom International Cellular and related companies with MarketBeat.com's FREE daily email newsletter.
