Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $30.66 Consensus Price Target from Analysts

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $32.26.

TIGO has been the subject of several recent analyst reports. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th.

Millicom International Cellular Stock Performance

NASDAQ TIGO opened at $27.78 on Thursday. The stock has a 50-day simple moving average of $25.36 and a two-hundred day simple moving average of $25.99. The firm has a market capitalization of $4.78 billion, a P/E ratio of 29.55 and a beta of 1.17. Millicom International Cellular has a fifty-two week low of $15.55 and a fifty-two week high of $28.75. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly 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 business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.03) EPS. Millicom International Cellular’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts forecast that Millicom International Cellular will post 2.05 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio (DPR) is currently 106.38%.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently bought and sold shares of TIGO. Blue Trust Inc. increased its stake in Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after buying an additional 1,367 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Millicom International Cellular in the third quarter valued at approximately $76,000. Point72 Asset Management L.P. purchased a new stake in shares of Millicom International Cellular in the third quarter valued at approximately $87,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Millicom International Cellular in the third quarter valued at approximately $168,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Millicom International Cellular in the second quarter valued at approximately $215,000.

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.