Vest Financial LLC Acquires New Holdings in Millicom International Cellular S.A. (NASDAQ:TIGO)

Vest Financial LLC acquired a new stake in shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,171 shares of the technology company's stock, valued at approximately $399,000.

A number of other hedge funds also recently made changes to their positions in the company. State of Wyoming purchased a new stake in Millicom International Cellular during the 4th quarter worth $49,000. Wells Fargo & Company MN increased its position in shares of Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after acquiring an additional 2,055 shares during the last quarter. Principal Securities Inc. increased its position in shares of Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after acquiring an additional 1,277 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock worth $227,000 after acquiring an additional 545 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in Millicom International Cellular in the fourth quarter valued at about $248,000.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO traded up $0.44 during trading on Thursday, hitting $37.09. 389,832 shares of the company traded hands, compared to its average volume of 407,782. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The business's fifty day moving average is $33.73 and its 200-day moving average is $29.23. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 39.46 and a beta of 1.08. Millicom International Cellular S.A. has a one year low of $22.59 and a one year high of $38.50.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company's revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, equities analysts predict that Millicom International Cellular S.A. will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently declared an annual dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular's payout ratio is currently 144.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TIGO shares. UBS Group upped their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Barclays reduced their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Scotiabank lifted their target price on Millicom International Cellular from $37.30 to $37.90 and gave the stock a "sector outperform" rating in a research report on Friday, February 28th. Finally, Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Millicom International Cellular currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.23.

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.