Millicom International Cellular (NASDAQ:TIGO) Stock Rating Lowered by Hsbc Global Res

Millicom International Cellular (NASDAQ:TIGO) was downgraded by equities researchers at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

Several other analysts also recently weighed in on TIGO. Scotiabank lifted their price objective on Millicom International Cellular from $26.80 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a report on Tuesday, May 28th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, HSBC downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Millicom International Cellular Price Performance

TIGO stock opened at $24.95 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. The business has a 50-day moving average price of $23.37 and a 200 day moving average price of $20.05. 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 data on Wednesday, May 8th. The technology company reported $0.54 earnings per share for the quarter. The firm 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, equities research analysts anticipate that Millicom International Cellular will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of Millicom International Cellular by 1,431.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,303 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth about $87,000. SG Americas Securities LLC grew its stake in shares of Millicom International Cellular by 13.1% during the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after acquiring an additional 920 shares during the last quarter. LWM Advisory Services LLC grew its stake in shares of Millicom International Cellular by 152.7% during the fourth quarter. LWM Advisory Services LLC now owns 29,422 shares of the technology company’s stock worth $530,000 after acquiring an additional 17,779 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Millicom International Cellular during the third quarter worth about $627,000.

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.