Zacks Investment Research Lowers Millicom International Cellular SA (NASDAQ:MIICF) to Strong Sell

Zacks Investment Research cut shares of Millicom International Cellular SA (NASDAQ:MIICF) from a hold rating to a strong sell rating in a research report report published on Saturday, August 5th.

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. “

Shares of Millicom International Cellular SA (NASDAQ MIICF) traded down 1.65% during trading on Friday, reaching $59.60. 2,971 shares of the company’s stock were exchanged. Millicom International Cellular SA has a 12 month low of $38.75 and a 12 month high of $65.31. The firm’s market cap is $5.99 billion. The stock has a 50-day moving average price of $61.74 and a 200 day moving average price of $56.90.

Millicom International Cellular SA (NASDAQ:MIICF) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.21. Millicom International Cellular SA had a negative net margin of 5.63% and a negative return on equity of 5.10%. The business had revenue of $1.05 billion for the quarter. On average, analysts forecast that Millicom International Cellular SA will post $1.26 EPS for the current year.

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About Millicom International Cellular SA

Millicom International Cellular SA is an international telecommunications and media company. The Company is engaged in providing digital lifestyle services in various markets, through mobile and fixed telephony, cable, broadband and television. Its segments include Latin America and Africa. It operates its mobile businesses in Central America (El Salvador) and in Africa (Chad, Ghana, Rwanda, Senegal and Tanzania).

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