Brandes Investment Partners LP recently announced the acquisition of new stake in Millicom International Cellular S.A. (NASDAQ:TIGO). The institutional investor has increased its shareholding in the Communication Services company by 39.69% to 2.72 million shares with purchase of 0.77 million shares. This fresh investment now brings its stake to 1.59% valued currently at $34.31 million. In addition, Brandes Investment Partners raised its holdings by 0.33 million to 0.33 million shares. And Aktie-Ansvar AB has lifted its position by 844.81% or 0.2 million shares – to 0.22 million shares.
With over 0.3 million Millicom International Cellular S.A. (TIGO) shares trading Tuesday and a closing price of $14.91 on the day, the dollar volume was approximately $4.49 million. The shares have shown a positive half year performance of 9.87% and its price on 01/17/23 gained nearly 3.76%. Currently, there are 170.87M common shares owned by the public and among those 100.41M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for TIGO have a consensus price objective of $19.90. The analysts have set the share’s price value over the next 12 months at a high of $25.96 and a low of $13.00. The average price target is 17.3% above its recent price level and a downside to the estimated low will see the stock lose -14.69% over that period. But an upside of 42.57% will see the stock hit the forecast high price target while median target price for the stock is $19.19.
The top 3 mutual fund holders in Millicom International Cellular S.A. are Lannebo Sverige Plus – Swedish eq, Alecta Pension, and Lannebo Sverige. Lannebo Sverige Plus – Swedish eq owns 1.76 million shares of the company’s stock, all valued at over $22.23 million. The company bought an additional 0.77 million shares recently to bring their total holdings to about 1.03% of the shares outstanding. Lannebo Sverige bought 0.45 million shares to bring its total holdings to over 1.1 million shares at a value of $13.89 million. Lannebo Sverige now owns shares totaling to 0.64% of the shares outstanding.
Shares of Millicom International Cellular S.A. (NASDAQ: TIGO) opened at $14.85, up $0.48 from a prior closing price of $14.37. However, the script later moved the day high at 15.15, up 3.76%. The company’s stock has a 5-day price change of 8.12% and 28.20% over the past three months. TIGO shares are trading 18.05% year to date (YTD), with the 12-month market performance down to -36.01% lower. It has a 12-month low price of $10.22 and touched a high of $22.81 over the same period. TIGO has an average intraday trading volume of 167.47K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.42%, 12.86%, and 1.00% respectively.
Institutional ownership of Millicom International Cellular S.A. (NASDAQ: TIGO) shares accounts for 15.30% of the company’s 170.87M shares outstanding. Mutual fund holders own -0.25%, while other institutional holders and individual stakeholders account for 5.28% and — respectively.
It has a market capitalization of $2.59B and a beta (3y monthly) value of 0.97. The stock’s trailing 12-month PE ratio is 2.26, while the earnings-per-share (ttm) stands at $6.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.95% over the week and 2.41% over the month.
Analysts forecast that Millicom International Cellular S.A. (TIGO) will achieve an EPS of $0.45 for the current quarter, $0.52 for the next quarter and $1.54 for 2023. The lowest estimate earnings-per-share for the quarter is $0.29 while analysts give the company a high EPS estimate of $0.64. Comparatively, EPS for the current quarter was $6.41 a year ago. Earnings per share for the fiscal year are expected to increase by 277.80%, and 95.84% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Millicom International Cellular S.A. (TIGO) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 4 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TIGO, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on January 17, 2023, with the firm’s price target at $16.50-$17. UBS was of a view on August 29, 2022 that the stock is Neutral, while HSBC Securities gave the stock Reduce rating on August 22, 2022, issuing a price target of $14. JP Morgan on their part issued Overweight rating on March 31, 2022.
