Analysts Set Millicom International Cellular SA (NASDAQ:TIGO) PT at $38.23

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.08.

TIGO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $41.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. Scotiabank lowered Millicom International Cellular from a “sector outperform” rating to a “sector perform” rating and set a $37.00 price objective on the stock. in a research note on Tuesday. Wall Street Zen downgraded Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Friday, May 30th. Barclays decreased their price target on Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Finally, UBS Group upped their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a “buy” rating in a report on Friday, May 16th.

Millicom International Cellular Price Performance

Shares of TIGO opened at $36.99 on Friday. Millicom International Cellular has a twelve month low of $22.59 and a twelve month high of $38.50. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65. The company has a 50 day moving average of $34.73 and a 200-day moving average of $29.63. The stock has a market capitalization of $6.37 billion, a P/E ratio of 17.78 and a beta of 1.08.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $0.54 EPS. The company’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities research analysts forecast that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The business also recently declared an annual dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.75 per share. This represents a yield of 3.9%. The ex-dividend date was Tuesday, April 8th. Millicom International Cellular’s dividend payout ratio is presently 144.23%.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds have recently made changes to their positions in the business. Dodge & Cox purchased a new stake in shares of Millicom International Cellular in the first quarter worth about $263,401,000. Price T Rowe Associates Inc. MD raised its stake in Millicom International Cellular by 5,033.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company’s stock worth $168,874,000 after acquiring an additional 5,470,214 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Millicom International Cellular by 1.5% during the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock valued at $114,402,000 after buying an additional 68,061 shares during the last quarter. Boston Partners purchased a new position in shares of Millicom International Cellular during the 1st quarter valued at about $73,286,000. Finally, Southeastern Asset Management Inc. TN purchased a new position in shares of Millicom International Cellular during the 4th quarter valued at about $60,306,000.

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.