Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) was the target of a significant increase in short interest in 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. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is currently 0.7 days.
Wall Street Analyst Weigh In
Several analysts recently issued reports on TIGO shares. UBS Group increased their target price on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. 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 report on Thursday, April 3rd. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Scotiabank raised their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.23.
View Our Latest Stock Report on TIGO
Institutional Investors Weigh In On Millicom International Cellular
A number of institutional investors and hedge funds have recently modified their holdings of the business. Dodge & Cox bought a new stake in Millicom International Cellular during the 1st quarter valued at $263,401,000. Price T Rowe Associates Inc. MD raised its position in Millicom International Cellular by 5,033.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock valued at $168,874,000 after purchasing an additional 5,470,214 shares in the last quarter. Boston Partners bought a new stake in Millicom International Cellular during the 1st quarter valued at $73,286,000. Southeastern Asset Management Inc. TN bought a new stake in Millicom International Cellular during the 4th quarter valued at $60,306,000. Finally, Goldman Sachs Group Inc. bought a new stake in Millicom International Cellular during the 1st quarter valued at $50,664,000.
Millicom International Cellular Trading Up 1.6%
Shares of NASDAQ:TIGO traded up $0.59 during trading on Friday, hitting $37.68. The company had a trading volume of 597,854 shares, compared to its average volume of 412,445. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 40.09 and a beta of 1.08. Millicom International Cellular has a one year low of $22.59 and a one year high of $38.50. The company has a fifty day simple moving average of $34.13 and a two-hundred day simple moving average of $29.41. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.
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 (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $0.54 EPS. The company's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, equities analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current year.
Millicom International Cellular Dividend Announcement
The firm also recently declared an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were paid a dividend of $0.75 per share. This represents a dividend yield of 3.9%. The ex-dividend date was Tuesday, April 8th. Millicom International Cellular's dividend payout ratio is currently 144.23%.
About Millicom International Cellular
(
Get Free Report)
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.
Further Reading
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