Millicom International Cellular (NASDAQ:TIGO) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Millicom International Cellular (NASDAQ:TIGO) from a buy rating to a hold rating in a report published on Saturday.

TIGO has been the subject of a number of other reports. Morgan Stanley reissued a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a research note on Thursday, February 26th. Scotiabank lifted their price objective on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research note on Monday, March 30th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $79.27 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market cap of $13.40 billion, a P/E ratio of 10.77 and a beta of 0.93. The firm’s fifty day moving average is $78.33 and its two-hundred day moving average is $64.25. Millicom International Cellular has a 52-week low of $35.49 and a 52-week high of $85.26.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.02%. As a group, analysts anticipate that Millicom International Cellular will post 3.76 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. Investors of record on Thursday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.8%. Millicom International Cellular’s payout ratio is currently 40.76%.

Hedge Funds Weigh In On Millicom International Cellular

A number of large investors have recently made changes to their positions in TIGO. Royal Bank of Canada lifted its holdings in Millicom International Cellular by 48.1% during the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after buying an additional 14,990 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Millicom International Cellular during the 1st quarter valued at about $2,188,000. Goldman Sachs Group Inc. bought a new stake in Millicom International Cellular during the 1st quarter valued at about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Millicom International Cellular during the 1st quarter valued at about $8,504,000.

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.