Millicom International Cellular SA (NASDAQ:TIGO) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts’ consensus: "Moderate Buy" — Seven analysts cover TIGO (5 buy, 1 hold, 1 sell) with an average 12‑month target price of $65.64.
• Millicom beat quarterly expectations, reporting $1.50 EPS vs. $1.05 estimate and $1.65B revenue vs. $1.49B, with revenue up 15.7% year‑over‑year, prompting upgrades and higher price targets from firms including UBS and HSBC.
• Institutional inflows include increased stakes from JPMorgan, State Street and Barclays and a new stake from Goldman Sachs; the company also announced a quarterly dividend of $0.75 ($3.00 annualized) for a 3.6% yield, ex‑dividend April 8.

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $65.64.

Several equities analysts recently issued reports on the company. Zacks Research raised Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. UBS Group raised shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and lifted their target price for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Morgan Stanley restated a "positive" rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. HSBC raised Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price target for the company in a report on Friday, March 6th. Finally, Scotiabank increased their price target on 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Millicom International Cellular by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company's stock worth $372,202,000 after buying an additional 253,891 shares during the last quarter. Barclays PLC lifted its position in shares of Millicom International Cellular by 1.7% in the third quarter. Barclays PLC now owns 2,895,215 shares of the technology company's stock valued at $140,534,000 after acquiring an additional 47,194 shares in the last quarter. State Street Corp lifted its position in shares of Millicom International Cellular by 14.9% in the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company's stock valued at $126,364,000 after acquiring an additional 296,319 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular in the first quarter worth approximately $50,664,000. Finally, Boston Partners boosted its stake in shares of Millicom International Cellular by 2.7% in the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company's stock worth $88,911,000 after acquiring an additional 41,765 shares during the last quarter.

Millicom International Cellular Stock Up 0.3%

Shares of TIGO stock opened at $83.79 on Wednesday. The stock's fifty day moving average price is $76.70 and its 200 day moving average price is $62.47. Millicom International Cellular has a 1-year low of $30.26 and a 1-year high of $85.26. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 10.67 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned $0.18 earnings per share. The company's quarterly revenue was up 15.7% on a year-over-year basis. On average, research analysts expect that Millicom International Cellular will post 3.23 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.6%. Millicom International Cellular's dividend payout ratio (DPR) is 38.22%.

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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