Wall Street Zen Downgrades Millicom International Cellular (NASDAQ:TIGO) to Buy

Wall Street Zen cut shares of Millicom International Cellular (NASDAQ:TIGO - Free Report) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Other equities research analysts have also recently issued research reports about the company. Barclays lowered their target price on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. upped their price objective on 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 upped their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Scotiabank upped their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.23.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO traded down $0.17 during trading on Friday, hitting $37.34. 1,007,189 shares of the stock were exchanged, compared to its average volume of 395,908. The company has a fifty day moving average price of $32.65 and a two-hundred day moving average price of $28.69. The company has a market cap of $6.43 billion, a PE ratio of 39.72 and a beta of 1.03. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 12-month low of $22.59 and a 12-month high of $38.50.

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

Millicom International Cellular Dividend Announcement

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

Institutional Trading of Millicom International Cellular

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth $819,000. Jane Street Group LLC acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth $928,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth $8,504,000. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth $50,664,000. Finally, Park West Asset Management LLC increased its holdings in shares of Millicom International Cellular by 513.0% during the 1st quarter. Park West Asset Management LLC now owns 1,510,977 shares of the technology company's stock worth $45,737,000 after buying an additional 1,264,480 shares during the last quarter.

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.