182,867 Shares in Millicom International Cellular SA (NASDAQ:TIGO) Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB acquired 182,867 shares of Millicom International Cellular SA valued at approximately $5.5 million during Q1, increasing its stake to 0.11% of the company.
• Analysts have mixed opinions on Millicom, with JPMorgan raising its target price to $50, while Scotiabank lowered its rating and set a target of $37, reflecting a range in analyst sentiment.
• Millicom announced a quarterly dividend of $0.75, resulting in a yield of 7.43%, although the company's payout ratio stands at a concerning 144.23% amid a challenging revenue environment.

Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 182,867 shares of the technology company's stock, valued at approximately $5,535,000. Skandinaviska Enskilda Banken AB publ owned 0.11% of Millicom International Cellular at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of Millicom International Cellular during the 4th quarter worth about $49,000. Wells Fargo & Company MN boosted its position in Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after buying an additional 2,055 shares during the period. EWA LLC purchased a new stake in Millicom International Cellular in the 1st quarter valued at about $201,000. Spinnaker Trust purchased a new stake in Millicom International Cellular in the 1st quarter valued at about $212,000. Finally, KBC Group NV purchased a new stake in Millicom International Cellular in the 1st quarter valued at about $233,000.

Millicom International Cellular Stock Down 2.3%

Shares of TIGO traded down $0.93 during mid-day trading on Monday, hitting $39.47. The company's stock had a trading volume of 736,951 shares, compared to its average volume of 1,163,877. The company's 50-day moving average is $37.64 and its 200-day moving average is $32.23. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $43.03. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 18.98 and a beta of 1.06. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65.

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 for the quarter, topping the consensus estimate of $0.91 by $0.23. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.45 billion. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The company's revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. On average, equities research analysts forecast that Millicom International Cellular SA will post 1.91 EPS 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 paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 7.60%. Millicom International Cellular's dividend payout ratio (DPR) is presently 144.23%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TIGO. JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. UBS Group boosted their price objective on shares of 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 lowered their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Wall Street Zen cut shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Scotiabank cut shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price objective for the company. in a research report on Tuesday, June 17th. Three 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 company's stock. According to MarketBeat.com, Millicom International Cellular presently has a consensus rating of "Moderate Buy" and a consensus price target 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.