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

Millicom International Cellular SA (NASDAQ:TIGO) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $85.68.

Several brokerages have commented on TIGO. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Scotiabank increased their price target on shares of Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a research note on Friday, August 7th. Royal Bank Of Canada set a $105.00 price target on shares of Millicom International Cellular in a research report on Tuesday, August 18th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. Finally, UBS Group upped their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th.

Millicom International Cellular Stock Down 9.6%

Shares of NASDAQ:TIGO opened at $79.48 on Friday. The firm has a market capitalization of $13.43 billion, a P/E ratio of 20.07 and a beta of 0.93. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.51 and a current ratio of 0.53. The stock has a 50 day moving average price of $93.11 and a 200-day moving average price of $88.65. Millicom International Cellular has a 52-week low of $44.88 and a 52-week high of $107.13.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Friday, January 8th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, January 8th. Millicom International Cellular’s payout ratio is currently 75.76%.

Institutional Trading of Millicom International Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in Millicom International Cellular by 896.7% during the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after buying an additional 269 shares during the last quarter. Altshuler Shaham Ltd grew its stake in shares of Millicom International Cellular by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after acquiring an additional 170 shares during the last quarter. Allworth Financial LP grew its stake in shares of Millicom International Cellular by 32.4% in the second quarter. Allworth Financial LP now owns 650 shares of the technology company’s stock worth $59,000 after acquiring an additional 159 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 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 valued at $65,000 after acquiring an additional 139 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Millicom International Cellular by 24.9% during the third quarter. Farther Finance Advisors LLC now owns 1,142 shares of the technology company’s stock valued at $100,000 after acquiring an additional 228 shares in the last quarter.

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.