Millicom International Cellular SA (NASDAQ:TIGO) Receives $38.23 Average Price Target from Analysts

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

A number of research firms recently weighed in on TIGO. JPMorgan Chase & Co. increased their price target 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. Scotiabank lowered shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price for the company. in a research note on Tuesday. Wall Street Zen downgraded Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Barclays cut their price target on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. 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.

Millicom International Cellular Price Performance

TIGO stock traded up $0.10 during trading hours on Friday, hitting $36.99. 430,426 shares of the stock traded hands, compared to its average volume of 418,335. The stock has a 50-day simple moving average of $34.54 and a 200 day simple moving average of $29.58. Millicom International Cellular has a one year low of $22.59 and a one year high of $38.50. The company has a market cap of $6.37 billion, a P/E ratio of 17.78 and a beta of 1.08. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the business posted $0.54 earnings per share. The company's quarterly revenue was down 7.6% on a year-over-year basis. Equities analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Militia Capital Partners LP acquired a new stake in Millicom International Cellular in the 1st quarter valued at approximately $908,000. Acadian Asset Management LLC acquired a new stake in Millicom International Cellular in the 1st quarter valued at $819,000. Jane Street Group LLC acquired a new stake in Millicom International Cellular in the 1st quarter valued at $928,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Millicom International Cellular in the 1st quarter valued at $8,504,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Millicom International Cellular in the 1st quarter valued at $50,664,000.

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.