Millicom International Cellular (NASDAQ:TIGO) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Millicom International Cellular (NASDAQ:TIGO) from a hold rating to a sell rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “MILLICOM INTL is a leading international operator of cellular telephony services, primarily in emerging markets where the basic telephone service is often inadequate and where economic development and change are creating new demand for communication services. MIC has sought to establish an early presence in markets with little or no cellular service by applying for cellular licenses, primarily through joint ventures with prominent local business partners. “

Separately, Barclays set a $46.00 target price on shares of D. R. Horton and gave the stock a buy rating in a research report on Friday, April 26th.

NASDAQ TIGO opened at $55.80 on Thursday. Millicom International Cellular has a 1-year low of $49.57 and a 1-year high of $74.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.76 and a current ratio of 0.77. The stock has a fifty day moving average of $55.62.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.34). Millicom International Cellular had a negative return on equity of 0.93% and a net margin of 0.73%. The company had revenue of $1.07 billion during the quarter. On average, sell-side analysts predict that Millicom International Cellular will post 0.26 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL acquired a new position in Millicom International Cellular during the first quarter worth $76,185,000. Gabelli Funds LLC acquired a new position in Millicom International Cellular during the first quarter worth $6,320,000. Bar Harbor Trust Services acquired a new position in Millicom International Cellular during the first quarter worth $4,553,000. FMR LLC acquired a new position in Millicom International Cellular during the first quarter worth $1,495,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in Millicom International Cellular during the first quarter worth $1,482,000. 6.44% of the stock is currently owned by hedge funds and other institutional investors.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

See Also: Leveraged Buyout (LBO)

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