Equitable Trust Co. Buys Shares of 9,944 Millicom International Cellular SA (NASDAQ:TIGO)

Key Points

• Equitable Trust Co. acquired 9,944 shares of Millicom International Cellular SA (NASDAQ:TIGO), valued at approximately $301,000, in the first quarter according to their recent SEC filing.
• Millicom International Cellular reported a quarterly earnings per share (EPS) of $1.14, exceeding analysts' expectations of $0.91, though revenue fell 7.6% year-over-year.
• The company's latest quarterly dividend was $0.75 per share, resulting in an annualized yield of 7.43%, despite a high dividend payout ratio of 144.23%.

Equitable Trust Co. bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,944 shares of the technology company's stock, valued at approximately $301,000.

Several other institutional investors and hedge funds have also made changes to their positions in TIGO. Assetmark Inc. lifted its holdings in Millicom International Cellular by 34.9% in the 1st quarter. Assetmark Inc. now owns 37,061 shares of the technology company's stock worth $1,122,000 after buying an additional 9,580 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Millicom International Cellular in the first quarter worth about $3,211,000. Y Intercept Hong Kong Ltd purchased a new position in Millicom International Cellular in the first quarter valued at about $394,000. Segall Bryant & Hamill LLC acquired a new stake in Millicom International Cellular during the 1st quarter valued at approximately $2,945,000. Finally, Victory Capital Management Inc. purchased a new stake in Millicom International Cellular during the 1st quarter worth approximately $22,999,000.

Millicom International Cellular Stock Performance

NASDAQ TIGO traded up $0.31 during trading hours on Tuesday, reaching $39.78. The company's stock had a trading volume of 501,151 shares, compared to its average volume of 892,586. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65. The business has a 50-day simple moving average of $37.69 and a 200 day simple moving average of $32.34. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $43.03. The stock has a market cap of $6.85 billion, a PE ratio of 19.13 and a beta of 1.06.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.23. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. Equities research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were given a $0.75 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $3.00 annualized dividend and a yield of 7.54%. Millicom International Cellular's dividend payout ratio is presently 144.23%.

Analyst Ratings Changes

Several research firms have recently commented on TIGO. JPMorgan Chase & Co. increased their target price 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. 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. Wall Street Zen lowered shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. UBS Group boosted their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Scotiabank downgraded Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price on the stock. in a report on Tuesday, June 17th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.08.

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.