Petrus Trust Company LTA Grows Position in Millicom International Cellular SA $TIGO

Key Points

• Petrus Trust Company LTA increased its stake in Millicom International Cellular SA by 98.5%, acquiring 18,114 additional shares in the first quarter, raising their total to 36,509 shares valued at approximately $1.1 million.
• The company reported a quarterly earnings per share (EPS) of $0.51, missing expectations by $0.03, with revenue of $1.37 billion, below analysts' forecasts of $1.40 billion.
• Millicom has announced a special dividend of $1.25 per share, with a yield of 620.0%, set to be paid on October 15th to shareholders of record by October 8th.

Petrus Trust Company LTA raised its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 98.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 36,509 shares of the technology company's stock after purchasing an additional 18,114 shares during the period. Millicom International Cellular comprises approximately 0.1% of Petrus Trust Company LTA's portfolio, making the stock its 28th biggest holding. Petrus Trust Company LTA's holdings in Millicom International Cellular were worth $1,105,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State of Wyoming acquired a new stake in Millicom International Cellular in the fourth quarter valued at $49,000. Caitong International Asset Management Co. Ltd acquired a new stake in Millicom International Cellular in the first quarter valued at $84,000. Wells Fargo & Company MN boosted its stake 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 valued at $122,000 after acquiring an additional 2,055 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock valued at $190,000 after acquiring an additional 2,489 shares during the last quarter. Finally, EWA LLC acquired a new stake in shares of Millicom International Cellular during the first quarter valued at $201,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TIGO shares. JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 25th. Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. UBS Group lowered Millicom International Cellular from a "buy" rating to a "neutral" rating and increased their price objective for the company from $39.50 to $49.00 in a research note on Thursday. Finally, Scotiabank increased their price objective on Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of "Moderate Buy" and an average price target of $42.02.

Millicom International Cellular Trading Down 2.8%

NASDAQ TIGO traded down $1.36 during trading hours on Thursday, hitting $46.62. 518,332 shares of the company's stock were exchanged, compared to its average volume of 945,449. The business's 50 day moving average is $42.88 and its 200-day moving average is $36.26. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $50.78. The firm has a market capitalization of $8.02 billion, a P/E ratio of 8.21 and a beta of 1.09. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. As a group, analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be issued a $1.25 dividend. This represents a dividend yield of 620.0%. The ex-dividend date is Wednesday, October 8th. Millicom International Cellular's dividend payout ratio (DPR) is 52.91%.

Millicom International Cellular 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.