Millicom International Cellular (NASDAQ:TIGO) Sees Strong Trading Volume – Should You Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-high trading volume on Tuesday . Approximately 83,203 shares changed hands during trading, a decline of 17% from the previous session’s volume of 100,763 shares.The stock last traded at $25.03 and had previously closed at $24.90.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $30.00 to $37.30 in a research note on Friday, September 20th. JPMorgan Chase & Co. began coverage on Millicom International Cellular in a research report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.66.

Millicom International Cellular Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 26.49 and a beta of 1.19. The stock has a fifty day moving average price of $26.49 and a two-hundred day moving average price of $25.82.

Millicom International Cellular (NASDAQ:TIGO) last announced its 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 firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts forecast that Millicom International Cellular S.A. will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in Millicom International Cellular by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after buying an additional 83,939 shares during the last quarter. Millennium Management LLC boosted its position in shares of Millicom International Cellular by 138.9% in the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after acquiring an additional 157,205 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Millicom International Cellular in the second quarter valued at approximately $215,000. Fifth Third Bancorp acquired a new position in Millicom International Cellular during the second quarter worth approximately $67,000. Finally, Envestnet Asset Management Inc. raised its stake in Millicom International Cellular by 5.7% during the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock worth $2,554,000 after purchasing an additional 5,624 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.