Millicom International Cellular SA (NASDAQ:TIGO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Millicom International Cellular SA (NASDAQ:TIGO) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $65.64.

A number of equities research analysts recently issued reports on the company. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Friday, March 6th. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Morgan Stanley restated a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research report on Thursday, February 26th. Scotiabank raised their price target on Millicom International Cellular from $43.00 to $51.20 and gave the company a “sector underperform” rating in a research report on Monday, March 30th. Finally, Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th.

Institutional Investors Weigh In On Millicom International Cellular

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in Millicom International Cellular during the third quarter valued at about $4,010,000. Plato Investment Management Ltd purchased a new stake in Millicom International Cellular during the third quarter valued at about $875,000. State of Alaska Department of Revenue purchased a new stake in Millicom International Cellular during the third quarter valued at about $970,000. JPMorgan Chase & Co. raised its position in Millicom International Cellular by 348.9% during the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after purchasing an additional 5,020,602 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Millicom International Cellular by 15.0% in the third quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company’s stock worth $6,230,000 after buying an additional 16,695 shares during the period.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $80.43 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. Millicom International Cellular has a 52-week low of $33.74 and a 52-week high of $85.26. The company has a market capitalization of $13.59 billion, a PE ratio of 10.25 and a beta of 0.93. The business’s fifty day moving average is $77.29 and its 200 day moving average is $62.97.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that Millicom International Cellular will post 3.23 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.7%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 38.22%.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.