Brokerages Set Millicom International Cellular S.A. (NASDAQ:TIGO) PT at $36.73

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.73.

A number of brokerages have issued reports on TIGO. Scotiabank lifted their price target on Millicom International Cellular from $37.30 to $37.90 and gave the stock a "sector outperform" rating in a report on Friday, February 28th. Morgan Stanley began coverage on Millicom International Cellular in a report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price target for the company. UBS Group lifted their price target on 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 for the company in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $33.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd.

Millicom International Cellular Stock Up 0.2%

TIGO traded up $0.07 on Wednesday, hitting $36.89. 604,919 shares of the company were exchanged, compared to its average volume of 381,509. Millicom International Cellular has a twelve month low of $22.59 and a twelve month high of $37.31. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 39.25 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. The firm has a 50-day moving average price of $32.12 and a two-hundred day moving average price of $28.41.

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 (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 return on equity of 4.43% and a net margin of 2.70%. Millicom International Cellular's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. On average, equities analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were issued a $0.75 dividend. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, April 8th. Millicom International Cellular's payout ratio is currently 144.23%.

Institutional Trading of Millicom International Cellular

Several institutional investors and hedge funds have recently made changes to their positions in TIGO. State of Wyoming purchased a new stake in shares of Millicom International Cellular in the 4th quarter valued at about $49,000. Caitong International Asset Management Co. Ltd acquired a new position in Millicom International Cellular in the 1st quarter valued at about $84,000. Blue Trust Inc. increased its position in Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after acquiring an additional 1,544 shares during the period. Wells Fargo & Company MN increased 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 acquiring an additional 2,055 shares during the period. Finally, Principal Securities Inc. increased its position in Millicom International Cellular by 22.2% in the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock valued at $176,000 after acquiring an additional 1,277 shares during the period.

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.