Millicom International Cellular SA Plans Quarterly Dividend of $0.75 (NASDAQ:TIGO)

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) declared a quarterly dividend on Wednesday, May 21st, NASDAQ Dividends reports. Stockholders of record on Tuesday, July 8th will be given a dividend of 0.75 per share by the technology company on Tuesday, July 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date of this dividend is Tuesday, July 8th.

Millicom International Cellular has a dividend payout ratio of 86.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Millicom International Cellular to earn $2.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 105.6%.

Millicom International Cellular Stock Down 3.5%

Shares of NASDAQ TIGO traded down $1.33 on Tuesday, hitting $37.04. The company had a trading volume of 884,752 shares, compared to its average volume of 484,717. Millicom International Cellular has a 12-month low of $23.61 and a 12-month high of $38.92. The business has a 50 day moving average of $36.24 and a two-hundred day moving average of $30.79. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $6.37 billion, a P/E ratio of 17.81 and a beta of 1.06.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released 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. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company's revenue was down 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TIGO. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Scotiabank downgraded 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. Barclays reduced their target price on 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. JPMorgan Chase & Co. increased their target price on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, UBS Group increased their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Millicom International Cellular currently has an average rating of "Moderate Buy" and an average target price of $38.08.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock worth $290,000 after buying an additional 453 shares in the last quarter. Royal Bank of Canada grew its stake in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company's stock valued at $1,398,000 after buying an additional 14,990 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Millicom International Cellular in the 1st quarter valued at about $819,000. Jane Street Group LLC acquired a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $928,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $2,188,000.

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.