Millicom International Cellular SA (NASDAQ:TIGO) Short Interest Update

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 661,300 shares, an increase of 65.3% from the May 15th total of 400,000 shares. Currently, 0.7% of the company's shares are sold short. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TIGO. UBS Group increased their price objective on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Scotiabank downgraded shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price objective on the stock. in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Barclays reduced their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.08.

Millicom International Cellular Stock Performance

TIGO traded up $0.10 on Wednesday, hitting $36.99. 430,426 shares of the stock traded hands, compared to its average volume of 416,939. The firm has a market capitalization of $6.37 billion, a PE ratio of 17.78 and a beta of 1.08. Millicom International Cellular has a 52 week low of $22.59 and a 52 week high of $38.50. The business has a fifty day moving average price of $34.54 and a two-hundred day moving average price of $29.58. 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 posted its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.23. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The company's revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. On average, research analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in shares of Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock worth $290,000 after purchasing an additional 453 shares during the last quarter. Cerity Partners LLC increased its position in Millicom International Cellular by 4.7% during the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock worth $339,000 after buying an additional 508 shares during the period. Jones Financial Companies Lllp increased its position in Millicom International Cellular by 6.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock worth $227,000 after acquiring an additional 545 shares during the period. Principal Securities Inc. raised its position in shares of Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock valued at $176,000 after buying an additional 1,277 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Millicom International Cellular by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock valued at $3,868,000 after acquiring an additional 1,500 shares in the last quarter.

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.