Millicom International Cellular (NASDAQ:TIGO) Price Target Raised to $30.00 at Scotiabank

Millicom International Cellular (NASDAQ:TIGO) had its target price hoisted by Scotiabank from $26.80 to $30.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a sector outperform rating on the technology company’s stock.

TIGO has been the topic of several other reports. New Street Research raised Millicom International Cellular from a neutral rating to a buy rating and increased their price target for the company from $20.00 to $24.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. began coverage on Millicom International Cellular in a research report on Tuesday, May 28th. They set an overweight rating and a $30.00 target price on the stock. Finally, HSBC lifted their target price on Millicom International Cellular from $22.50 to $24.00 and gave the company a buy rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $27.00.

Millicom International Cellular Price Performance

NASDAQ TIGO opened at $22.84 on Friday. The business’s fifty day moving average price is $22.73 and its 200-day moving average price is $19.61. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 456.80 and a beta of 1.20. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.86 and a quick ratio of 0.84. Millicom International Cellular has a 1-year low of $14.46 and a 1-year high of $25.60.

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

Hedge Funds Weigh In On Millicom International Cellular

Several large investors have recently made changes to their positions in the business. LB Partners LLC purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at about $9,000,000. Morningstar Investment Services LLC lifted its position in shares of Millicom International Cellular by 105.6% in the fourth quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock valued at $4,474,000 after acquiring an additional 126,679 shares in the last quarter. Renaissance Group LLC lifted its position in shares of Millicom International Cellular by 6.5% in the fourth quarter. Renaissance Group LLC now owns 139,565 shares of the technology company’s stock valued at $2,512,000 after acquiring an additional 8,508 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Millicom International Cellular by 17.2% in the first quarter. Gabelli Funds LLC now owns 88,833 shares of the technology company’s stock valued at $1,797,000 after acquiring an additional 13,020 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Millicom International Cellular by 29.5% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 61,784 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 14,092 shares in the last quarter.

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.