Morgan Stanley Initiates Coverage on Millicom International Cellular (NASDAQ:TIGO)

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

TIGO has been the subject of a number of other research reports. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, January 22nd. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $32.22.

Millicom International Cellular Trading Down 0.8 %

Millicom International Cellular stock opened at $27.21 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular has a fifty-two week low of $15.55 and a fifty-two week high of $28.75. The stock has a market cap of $4.68 billion, a P/E ratio of 28.95 and a beta of 1.17. The firm’s fifty day moving average price is $25.52 and its 200-day moving average price is $26.10.

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

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in Millicom International Cellular by 159.7% in the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,367 shares during the period. National Bank of Canada FI bought a new position in shares of Millicom International Cellular in the third quarter worth approximately $76,000. Point72 Asset Management L.P. purchased a new position in shares of Millicom International Cellular in the third quarter worth $87,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Millicom International Cellular during the 3rd quarter valued at $168,000. Finally, Principal Securities Inc. boosted its holdings in shares of Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock worth $176,000 after purchasing an additional 1,277 shares during the period.

About Millicom International Cellular

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.