Millicom International Cellular S.A. (NASDAQ:TIGO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $30.66.

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $30.00 to $37.30 in a report on Friday, September 20th.

Millicom International Cellular Stock Up 1.9 %

Shares of TIGO traded up $0.50 during trading hours on Thursday, hitting $27.41. 80,755 shares of the company were exchanged, compared to its average volume of 288,183. The firm’s 50 day moving average is $25.34 and its 200-day moving average is $25.91. Millicom International Cellular has a 52 week low of $15.55 and a 52 week high of $28.75. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.38). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. Millicom International Cellular’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. As a group, equities analysts forecast that Millicom International Cellular will post 1.98 EPS for the current year.

Millicom International Cellular Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 10th. Investors of record on Friday, January 3rd were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio (DPR) is presently 106.38%.

Institutional Investors Weigh In On Millicom International Cellular

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its position in Millicom International Cellular by 5.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock valued at $2,554,000 after buying an additional 5,624 shares during the last quarter. Renaissance Technologies LLC boosted its position in Millicom International Cellular by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after buying an additional 83,939 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Millicom International Cellular by 11.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock valued at $477,000 after buying an additional 1,964 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Millicom International Cellular in the 2nd quarter valued at $884,000. Finally, AQR Capital Management LLC bought a new position in Millicom International Cellular in the 2nd quarter valued at $215,000.

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.