Millicom International Cellular (NASDAQ:TIGO) Releases Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) issued its quarterly earnings data on Thursday. The technology company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.23, Zacks reports. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm earned $0.54 EPS. Millicom International Cellular's quarterly revenue was down 7.6% on a year-over-year basis.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock traded up $0.43 on Friday, hitting $34.69. The company had a trading volume of 983,345 shares, compared to its average volume of 361,773. Millicom International Cellular has a 52 week low of $22.59 and a 52 week high of $35.47. The company has a market cap of $5.97 billion, a PE ratio of 36.90 and a beta of 1.03. The business has a 50-day simple moving average of $30.67 and a 200-day simple moving average of $27.73. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Millicom International Cellular Dividend Announcement

The business also recently declared an annual dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular's dividend payout ratio (DPR) is 202.70%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TIGO shares. Morgan Stanley began coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 target price on the stock. Hsbc Global Res raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Barclays decreased 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 report on Thursday, April 3rd. Scotiabank raised their price target 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. Finally, HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price objective for the company in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.65.

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.