Millicom International Cellular SA (NASDAQ:TIGO) Receives $38.08 Average Target Price from Brokerages

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $38.08.

Several analysts have weighed in on TIGO shares. Scotiabank lowered Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price on the stock. in a report on Tuesday, June 17th. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Barclays reduced their price objective 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. UBS Group upped their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. upped 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.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds have recently bought and sold shares of TIGO. Jones Financial Companies Lllp grew its stake in Millicom International Cellular by 6.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock valued at $227,000 after purchasing an additional 545 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Millicom International Cellular by 47.8% during 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 in the last quarter. Assetmark Inc. grew its stake 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 valued at $687,000 after purchasing an additional 26,818 shares in the last quarter. Brandes Investment Partners LP grew its stake in Millicom International Cellular by 1.5% during the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock valued at $114,402,000 after purchasing an additional 68,061 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Millicom International Cellular during the 4th quarter valued at approximately $474,000.

Millicom International Cellular Price Performance

TIGO stock traded up $0.45 on Thursday, reaching $37.89. 698,881 shares of the company's stock were exchanged, compared to its average volume of 493,802. The stock has a fifty day moving average of $36.52 and a 200-day moving average of $31.11. Millicom International Cellular has a twelve month low of $23.61 and a twelve month high of $38.92. The firm has a market cap of $6.52 billion, a PE ratio of 18.22 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.45 billion. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. Millicom International Cellular's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 earnings per share. As a group, equities analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $3.00 dividend on an annualized basis and a yield of 7.92%. Millicom International Cellular's dividend payout ratio (DPR) is presently 144.23%.

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.