Deutsche Bank AG Invests $20.39 Million in Millicom International Cellular SA $TIGO

Key Points

• Deutsche Bank AG has acquired a new stake in Millicom International Cellular, purchasing 673,447 shares valued at approximately $20.4 million during the first quarter.
• Millicom International Cellular recently reported earnings per share of $0.51 for the quarter, which was below analysts' expectations of $0.54, and had revenues of $1.37 billion compared to the forecast of $1.40 billion.
• The company announced a quarterly dividend of $0.75, resulting in an annualized dividend of $3.00 and a yield of 6.8%, with a dividend payout ratio of 52.91%.

Deutsche Bank AG acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 673,447 shares of the technology company's stock, valued at approximately $20,385,000. Deutsche Bank AG owned 0.39% of Millicom International Cellular as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TIGO. Teacher Retirement System of Texas purchased a new stake in Millicom International Cellular during the 1st quarter worth $1,402,000. KBC Group NV purchased a new stake in Millicom International Cellular during the 1st quarter worth $233,000. CWA Asset Management Group LLC increased its stake in Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock worth $373,000 after buying an additional 3,141 shares during the period. GSA Capital Partners LLP purchased a new stake in Millicom International Cellular during the 1st quarter worth $1,648,000. Finally, Two Sigma Advisers LP purchased a new stake in Millicom International Cellular during the 4th quarter worth $988,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TIGO. UBS Group boosted their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday. Scotiabank lowered shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target for the company. in a report on Tuesday, June 17th. Finally, Wall Street Zen lowered shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Sunday. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.92.

Millicom International Cellular Stock Performance

Millicom International Cellular stock traded up $0.36 during midday trading on Monday, reaching $45.03. 402,431 shares of the stock traded hands, compared to its average volume of 915,870. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The firm has a fifty day moving average price of $39.09 and a two-hundred day moving average price of $33.80. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 7.94 and a beta of 1.04. Millicom International Cellular SA has a fifty-two week low of $23.61 and a fifty-two week high of $45.51.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. On average, equities research analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.00 annualized dividend and a yield of 6.7%. Millicom International Cellular's dividend payout ratio is presently 52.91%.

Millicom International Cellular Company Profile

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.