Millicom International Cellular (NASDAQ:TIGO) Shares Gap Down – Should You Sell?

Millicom International Cellular S.A. (NASDAQ:TIGO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $25.13, but opened at $24.06. Millicom International Cellular shares last traded at $24.03, with a volume of 17,219 shares changing hands.

Wall Street Analyst Weigh In

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

Millicom International Cellular Price Performance

The firm has a market capitalization of $2.44 billion, a PE ratio of 25.54 and a beta of 1.19. The firm’s fifty day moving average price is $25.81 and its 200 day moving average price is $25.80. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.38). The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. Millicom International Cellular’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, equities analysts forecast that Millicom International Cellular S.A. will post 1.98 earnings per share for the current year.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of TIGO. Signaturefd LLC lifted its holdings in Millicom International Cellular by 217.9% in the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock valued at $28,000 after acquiring an additional 780 shares during the period. Blue Trust Inc. lifted its stake in shares of Millicom International Cellular by 159.7% in the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,367 shares during the period. National Bank of Canada FI purchased a new stake in Millicom International Cellular during the third quarter worth $76,000. Point72 Asset Management L.P. acquired a new stake in Millicom International Cellular during the third quarter valued at $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Millicom International Cellular in the third quarter valued at $168,000.

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.