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

Millicom International Cellular S.A. (NASDAQ:TIGO) has been given an average rating of “Buy” by the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $33.98.

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Scotiabank lifted 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. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Wednesday, January 22nd. Finally, Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price for the company.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock opened at $28.21 on Friday. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 30.01 and a beta of 1.18. The firm’s 50-day moving average price is $26.43 and its two-hundred day moving average price is $26.42. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 1-year low of $18.09 and a 1-year high of $28.98.

Millicom International Cellular Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s payout ratio is 202.70%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TIGO. Perpetual Ltd acquired a new stake in shares of Millicom International Cellular during the 4th quarter worth approximately $1,587,000. Blue Trust Inc. boosted its stake in Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,544 shares during the last quarter. MML Investors Services LLC boosted its stake in Millicom International Cellular by 5.3% in the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock valued at $402,000 after acquiring an additional 750 shares during the last quarter. State Street Corp acquired a new stake in Millicom International Cellular during the 3rd quarter worth $231,000. Finally, Principal Securities Inc. raised its position in shares of Millicom International Cellular by 22.2% during the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after acquiring an additional 1,277 shares during 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.