Millicom International Cellular SA (NASDAQ:TIGO) Stock Has Average Price Target of $85.68 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Millicom International Cellular, with three buys, three holds and one sell among seven covering firms. The average 12-month price target is $85.68, below the stock’s $88.32 opening price.
• Millicom recently declared a quarterly dividend of $0.75 per share, equivalent to $3.00 annually and a 3.4% yield, with a payout ratio of 75.76%.
• The stock has traded between $44.88 and $107.13 over the past year and carries relatively high leverage, reflected in a 3.07 debt-to-equity ratio; institutional investors have nevertheless increased their stakes.

Shares of Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) have earned an average rating of "Hold" from the seven research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $85.68.

Several brokerages recently commented on TIGO. Royal Bank Of Canada set a $105.00 price target on shares of Millicom International Cellular in a research note on Tuesday, August 18th. UBS Group upped their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $105.00 price objective (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Weiss Ratings cut Millicom International Cellular from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Finally, Zacks Research raised Millicom International Cellular from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $88.32 on Friday. The firm has a market capitalization of $14.93 billion, a P/E ratio of 22.30 and a beta of 0.93. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07. Millicom International Cellular has a 52 week low of $44.88 and a 52 week high of $107.13. The firm's 50 day moving average is $93.83 and its two-hundred day moving average is $88.13.

Millicom International Cellular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Friday, January 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 8th. This represents a $3.00 annualized dividend and a yield of 3.4%. Millicom International Cellular's payout ratio is 75.76%.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company's stock valued at $27,000 after acquiring an additional 269 shares during the period. Altshuler Shaham Ltd boosted its stake in Millicom International Cellular by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company's stock worth $47,000 after purchasing an additional 170 shares during the period. Allworth Financial LP raised its holdings in shares of Millicom International Cellular by 32.4% in the second quarter. Allworth Financial LP now owns 650 shares of the technology company's stock valued at $59,000 after buying an additional 159 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Millicom International Cellular by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company's stock valued at $65,000 after acquiring an additional 139 shares during the period. Finally, GAMMA Investing LLC raised its stake in Millicom International Cellular by 39.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,160 shares of the technology company's stock valued at $105,000 after acquiring an additional 328 shares during the last quarter.

Millicom International Cellular Company Profile

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.

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