Raiffeisen Bank International AG Makes New Investment in Millicom International Cellular S.A. (NASDAQ:TIGO)

Raiffeisen Bank International AG purchased a new stake in Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,000 shares of the technology company's stock, valued at approximately $248,000.

Other large investors have also recently modified their holdings of the company. Perpetual Ltd bought a new position in shares of Millicom International Cellular in the fourth quarter worth approximately $1,587,000. Brandes Investment Partners LP grew its stake in Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock worth $114,402,000 after buying an additional 68,061 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Millicom International Cellular by 4,044.9% in the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company's stock worth $687,000 after buying an additional 26,818 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Millicom International Cellular by 47.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company's stock valued at $3,993,000 after buying an additional 51,620 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $474,000.

Millicom International Cellular Stock Up 0.7%

TIGO opened at $36.06 on Monday. Millicom International Cellular S.A. has a 12 month low of $22.59 and a 12 month high of $36.29. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The business's 50-day moving average price is $31.36 and its 200-day moving average price is $27.99. The company has a market cap of $6.21 billion, a P/E ratio of 38.36 and a beta of 1.03.

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

Millicom International Cellular Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Scotiabank upped their target price on shares of 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. Morgan Stanley began coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 price objective for the company. UBS Group raised 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. Barclays cut their target price on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Finally, Hsbc Global Res raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.