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

Equities research analysts at Morgan Stanley started coverage on shares of Millicom International Cellular (NASDAQ:TIGO) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $32.00 price target on the technology company’s stock. Morgan Stanley’s price objective suggests a potential upside of 15.94% from the stock’s current price.

A number of other research analysts have also weighed in on TIGO. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $32.22.

Millicom International Cellular Trading Up 0.1 %

TIGO opened at $27.60 on Wednesday. The business has a 50 day simple moving average of $25.50 and a two-hundred day simple moving average of $26.09. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 29.36 and a beta of 1.17. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a one year low of $15.55 and a one year high of $28.75.

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

Institutional Trading of Millicom International Cellular

Large investors have recently added to or reduced their stakes in the company. 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 acquiring an additional 1,367 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $76,000. Point72 Asset Management L.P. purchased a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $87,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $168,000. Finally, AQR Capital Management LLC purchased a new position in shares of Millicom International Cellular in the 2nd quarter worth approximately $215,000.

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.