Millicom International Cellular (NASDAQ:TIGO) Posts Quarterly Earnings Results

Millicom International Cellular (NASDAQ:TIGO) released its earnings results on Friday. The technology company reported $0.46 earnings per share for the quarter, Zacks reports. The company had revenue of $1.46 billion during the quarter. Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%. During the same quarter in the previous year, the firm earned ($0.13) EPS.

Millicom International Cellular Stock Performance

NASDAQ:TIGO traded up $1.32 during trading hours on Friday, hitting $25.93. The stock had a trading volume of 278,204 shares, compared to its average volume of 121,071. The business’s 50 day moving average is $24.41 and its 200-day moving average is $21.04. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.74. Millicom International Cellular has a one year low of $14.46 and a one year high of $26.20.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. HSBC downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. assumed coverage on shares of Millicom International Cellular in a research note on Tuesday, May 28th. They issued an “overweight” rating and a $30.00 price objective on the stock. Hsbc Global Res cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Scotiabank increased their price target 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.00.

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.