Millicom International Cellular SA (NASDAQ:TIGO) Stock Has Average Price Target of $85.68

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three 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 $85.68.

A number of analysts have recently weighed in on TIGO shares. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of Millicom International Cellular from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. UBS Group upped their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Royal Bank Of Canada set a $105.00 price target on Millicom International Cellular in a research report on Tuesday, August 18th. Finally, Scotiabank lifted their price objective on Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research note on Friday, August 7th.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in shares of Millicom International Cellular by 896.7% during the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Millicom International Cellular by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock valued at $47,000 after purchasing an additional 170 shares during the period. Allworth Financial LP boosted its holdings in Millicom International Cellular by 32.4% during the second quarter. Allworth Financial LP now owns 650 shares of the technology company’s stock worth $59,000 after buying an additional 159 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Millicom International Cellular by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after buying an additional 139 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Millicom International Cellular by 39.4% during the second quarter. GAMMA Investing LLC now owns 1,160 shares of the technology company’s stock valued at $105,000 after buying an additional 328 shares during the period.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $91.17 on Friday. Millicom International Cellular has a twelve month low of $44.88 and a twelve month high of $107.13. The company’s 50 day moving average is $93.74 and its 200 day moving average is $88.36. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07. The company has a market cap of $15.41 billion, a PE ratio of 23.02 and a beta of 0.93.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, January 8th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, January 8th. Millicom International Cellular’s dividend payout ratio (DPR) is currently 75.76%.

About Millicom International Cellular

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.