Millicom International Cellular SA (NASDAQ:TIGO) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Millicom International Cellular SA has received a consensus rating of "Moderate Buy" from analysts, with a 12-month price target averaging $38.08.
• The company recently reported earnings per share (EPS) of $1.14, exceeding expectations, but its revenue decreased by 7.6% year-over-year, at $1.37 billion.
• Millicom announced a quarterly dividend of $0.75 per share, resulting in a 7.4% dividend yield, despite a high payout ratio of 144.23%.

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $38.0833.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Scotiabank cut Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target for the company. in a report on Tuesday, June 17th. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Finally, UBS Group upped their price target on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a report on Friday, May 16th.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO traded up $2.95 during mid-day trading on Monday, reaching $42.89. The company had a trading volume of 1,500,244 shares, compared to its average volume of 893,248. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65. The stock has a market cap of $7.38 billion, a PE ratio of 20.55 and a beta of 1.04. The company has a 50-day moving average price of $38.18 and a two-hundred day moving average price of $32.94. Millicom International Cellular has a 1-year low of $23.61 and a 1-year high of $43.30.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. On average, equities analysts anticipate that Millicom International Cellular will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular's dividend payout ratio (DPR) is presently 144.23%.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently modified their holdings of TIGO. Geode Capital Management LLC boosted its holdings in shares of Millicom International Cellular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after acquiring an additional 1,500 shares during the period. Wells Fargo & Company MN raised its position in shares of Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after buying an additional 2,055 shares in the last quarter. BTG Pactual Asset Management US LLC raised its position in Millicom International Cellular by 9.6% during the fourth quarter. BTG Pactual Asset Management US LLC now owns 53,818 shares of the technology company's stock valued at $1,336,000 after purchasing an additional 4,705 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Millicom International Cellular by 37.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock valued at $2,720,000 after purchasing an additional 29,730 shares in the last quarter. Finally, Park West Asset Management LLC bought a new stake in shares of Millicom International Cellular during the fourth quarter worth $6,165,000.

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.