Millicom International Cellular SA (NASDAQ:TIGO) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• "Moderate Buy" consensus from seven analysts (five buy, one hold, one sell) with an average 12‑month price target of $65.64, while recent upgrades from HSBC and UBS raised some targets to $89 and $70 respectively.
• Millicom beat expectations for the quarter with EPS $1.50 vs. $1.05 expected and revenue of $1.65 billion (up 15.7% YoY), reporting a net margin of 22.62% and ROE of 17.07%.
• The company declared a quarterly $0.75 dividend (annualized $3.00) implying a 3.6% yield, with an ex‑dividend date of April 8 and payment on April 15.

Shares of Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $65.64.

Several equities research analysts have recently issued reports on TIGO shares. HSBC upgraded shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price target for the company in a research report on Friday, March 6th. Zacks Research upgraded shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Weiss Ratings restated a "buy (b)" rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. UBS Group upgraded shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and upped their price target for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Finally, Scotiabank upped their price target on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a "sector underperform" rating in a research report on Monday, March 30th.

Millicom International Cellular Price Performance

NASDAQ:TIGO opened at $83.03 on Friday. Millicom International Cellular has a one year low of $26.65 and a one year high of $84.44. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 10.58 and a beta of 0.87. The firm's fifty day moving average is $71.42 and its two-hundred day moving average is $58.64.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted $0.18 EPS. The company's revenue for the quarter was up 15.7% on a year-over-year basis. Research analysts expect that Millicom International Cellular will post 1.91 EPS for the current year.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.6%. Millicom International Cellular's dividend payout ratio is presently 38.22%.

Institutional Trading of Millicom International Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Millicom International Cellular by 1,129.7% during the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company's stock worth $25,000 after buying an additional 418 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Millicom International Cellular during the 4th quarter worth approximately $26,000. Blue Trust Inc. increased its holdings in shares of Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock worth $27,000 after buying an additional 427 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock worth $25,000 after buying an additional 314 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Millicom International Cellular during the 4th quarter worth approximately $29,000.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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