Millicom International Cellular (NASDAQ:TIGO) Raised to Buy at HSBC

HSBC upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a hold rating to a buy rating in a research note published on Wednesday morning, MarketBeat reports. They currently have $34.00 price objective on the technology company’s stock.

Separately, JPMorgan Chase & Co. decreased their target price on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.26.

Millicom International Cellular Trading Up 1.2 %

NASDAQ TIGO opened at $27.78 on Wednesday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 29.55 and a beta of 1.17. 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 has a one year low of $15.55 and a one year high of $28.75. The company’s 50 day moving average price is $25.36 and its 200 day moving average price is $25.99.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted ($0.03) EPS. The business’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that Millicom International Cellular will post 2.05 EPS for the current year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio is currently 106.38%.

Institutional Trading of Millicom International Cellular

Several large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its stake in Millicom International Cellular by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock valued at $2,554,000 after purchasing an additional 5,624 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Millicom International Cellular by 35.4% during 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 grew its position in shares of Millicom International Cellular by 11.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock worth $477,000 after buying an additional 1,964 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Millicom International Cellular in the second quarter worth $884,000. Finally, AQR Capital Management LLC acquired a new stake in Millicom International Cellular in the second quarter valued at $215,000.

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.