Millicom International Cellular (NASDAQ:TIGO) Downgraded to “Hold” at HSBC

HSBC downgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat.com reports.

A number of other equities research analysts have also recently issued reports on TIGO. Scotiabank raised their target price on Millicom International Cellular from $26.80 to $30.00 and gave the company a sector outperform rating in a research note on Friday, June 21st. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a research note on Tuesday, May 28th. They set an overweight rating and a $30.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $27.00.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $24.69 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.84 and a current ratio of 0.86. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $25.60. The firm’s 50-day moving average is $23.27 and its 200-day moving average is $20.01.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.54 EPS for the quarter. The company 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%. As a group, research analysts forecast that Millicom International Cellular will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LB Partners LLC acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at about $9,000,000. Morningstar Investment Services LLC raised its holdings 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 valued at $4,474,000 after purchasing an additional 126,679 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Millicom International Cellular in the 1st quarter valued at $1,216,000. Schonfeld Strategic Advisors LLC bought a new stake in Millicom International Cellular in the third quarter worth $627,000. Finally, Optiver Holding B.V. increased its position in Millicom International Cellular by 216.0% during the fourth 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 during 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.