Millicom International Cellular SA (NASDAQ:TIGO) Receives $77.28 Average Price Target from Brokerages

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $77.28.

TIGO has been the topic of several recent analyst reports. Scotiabank upped their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Finally, Morgan Stanley restated a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th.

Insider Buying and Selling at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the sale, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Millicom International Cellular by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock worth $372,202,000 after acquiring an additional 253,891 shares in the last quarter. Barclays PLC raised its position in shares of Millicom International Cellular by 1.7% during the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after purchasing an additional 47,194 shares during the period. State Street Corp raised its position in shares of Millicom International Cellular by 14.9% during the 4th quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock worth $126,364,000 after purchasing an additional 296,319 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular in the 1st quarter worth approximately $50,664,000. Finally, Boston Partners lifted its stake in Millicom International Cellular by 2.7% in the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock valued at $88,911,000 after buying an additional 41,765 shares during the last quarter.

Millicom International Cellular Trading Down 5.3%

Shares of TIGO stock opened at $82.66 on Friday. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 11.23 and a beta of 0.91. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The firm has a 50-day moving average price of $81.98 and a 200 day moving average price of $68.08. Millicom International Cellular has a twelve month low of $35.62 and a twelve month high of $89.49.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. Research analysts forecast that Millicom International Cellular will post 2.34 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is 40.76%.

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.