Millicom International Cellular SA (NASDAQ:TIGO) Sees Large Decrease in Short Interest

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 2,200,000 shares, a drop of 22.3% from the July 31st total of 2,830,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analyst Weigh In

Several analysts have recently commented on TIGO shares. Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Scotiabank raised their target price on Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research note on Tuesday, August 19th. UBS Group downgraded Millicom International Cellular from a "buy" rating to a "neutral" rating and raised their target price for the company from $39.50 to $49.00 in a research note on Thursday. Finally, Zacks Research upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Stock Down 1.7%

NASDAQ TIGO traded down $0.81 during trading hours on Thursday, hitting $47.16. The company's stock had a trading volume of 1,107,814 shares, compared to its average volume of 949,002. Millicom International Cellular has a 52 week low of $23.61 and a 52 week high of $50.78. The company has a market capitalization of $8.12 billion, a PE ratio of 8.32 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The company's 50-day simple moving average is $42.88 and its two-hundred day simple moving average is $36.26.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.40 billion. Research analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a dividend yield of 620.0%. Millicom International Cellular's dividend payout ratio (DPR) is currently 52.91%.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of Millicom International Cellular during the 2nd quarter worth approximately $30,000. State of Wyoming bought a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $49,000. EverSource Wealth Advisors LLC lifted its position in shares of Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company's stock worth $53,000 after buying an additional 502 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $84,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Millicom International Cellular by 65.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after buying an additional 2,489 shares in the last quarter.

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.