Millicom International Cellular (NASDAQ:TIGO) Rating Lowered to "Buy" at Wall Street Zen

Wall Street Zen lowered shares of Millicom International Cellular (NASDAQ:TIGO - Free Report) from a strong-buy rating to a buy rating in a report published on Friday morning.

TIGO has been the subject of a number of other research reports. Scotiabank increased 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. UBS Group raised their price objective on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Barclays decreased their price target on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lifted 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.23.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock traded up $0.24 during midday trading on Friday, hitting $36.97. The company had a trading volume of 156,524 shares, compared to its average volume of 798,755. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The business's 50 day simple moving average is $32.94 and its two-hundred day simple moving average is $28.82. Millicom International Cellular has a 1-year low of $22.59 and a 1-year high of $38.50. The stock has a market cap of $6.36 billion, a PE ratio of 39.33 and a beta of 1.03.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. As a group, equities analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

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

Institutional Trading of Millicom International Cellular

Large investors have recently bought and sold shares of the business. Brandes Investment Partners LP boosted its holdings in shares of Millicom International Cellular by 1.5% in the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock valued at $114,402,000 after buying an additional 68,061 shares during the period. Assetmark Inc. increased its holdings in Millicom International Cellular by 4,044.9% during the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company's stock worth $687,000 after purchasing an additional 26,818 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Millicom International Cellular by 47.8% in 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 purchasing an additional 51,620 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Millicom International Cellular in the fourth quarter valued at about $988,000. Finally, Magnetar Financial LLC acquired a new position in shares of Millicom International Cellular during the fourth quarter worth about $474,000.

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.