Millicom International Cellular SA (NASDAQ:TIGO) Receives $65.64 Consensus Target Price from Brokerages

Millicom International Cellular SA (NASDAQ:TIGO) has been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $65.64.

Several analysts recently commented on TIGO shares. Scotiabank lifted their price objective on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a report on Monday, March 30th. Morgan Stanley reaffirmed a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Friday, March 6th. Finally, UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $70.00 in a research report on Thursday, January 15th.

Millicom International Cellular Stock Up 2.1%

Shares of NASDAQ:TIGO opened at $80.13 on Wednesday. The stock has a fifty day simple moving average of $77.87 and a two-hundred day simple moving average of $63.66. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.21 and a beta of 0.93. Millicom International Cellular has a 12-month low of $33.74 and a 12-month high of $85.26. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81.

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

Millicom International Cellular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors 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 annualized dividend and a yield of 3.7%. Millicom International Cellular’s payout ratio is 38.22%.

Hedge Funds Weigh In On Millicom International Cellular

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Millicom International Cellular by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after acquiring an additional 253,891 shares in the last quarter. Barclays PLC lifted its position in shares of Millicom International Cellular by 1.7% in the third quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after buying an additional 47,194 shares in the last quarter. State Street Corp lifted its position in shares of Millicom International Cellular by 14.9% in the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock worth $126,364,000 after buying an additional 296,319 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Millicom International Cellular in the first quarter worth about $50,664,000. Finally, Boston Partners lifted its position in shares of Millicom International Cellular by 2.7% in the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock worth $88,911,000 after buying an additional 41,765 shares in the last quarter.

Millicom International Cellular Company Profile

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.