Millicom International Cellular SA (TIGO) – What Are Brokerages Saying About This Stock?

Millicom International Cellular SA (NASDAQ:TIGO) has received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $85.68.

TIGO has been the topic of several analyst reports. Weiss Ratings raised Millicom International Cellular from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Scotiabank upped their price target on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a report on Friday, August 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $105.00 price target (up from $100.00) on shares of Millicom International Cellular in a research report on Tuesday, August 18th. Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada set a $105.00 price objective on shares of Millicom International Cellular in a report on Tuesday, August 18th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its stake in shares of Millicom International Cellular by 2.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 48,061 shares of the technology company’s stock worth $4,188,000 after buying an additional 988 shares during the last quarter. Viewpoint Investment Partners Corp purchased a new stake in shares of Millicom International Cellular during the third quarter valued at approximately $349,000. Signaturefd LLC increased its position in shares of Millicom International Cellular by 13.4% during the third quarter. Signaturefd LLC now owns 3,703 shares of the technology company’s stock valued at $323,000 after acquiring an additional 439 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in shares of Millicom International Cellular during the third quarter valued at approximately $477,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Millicom International Cellular by 26.9% during the third quarter. SBI Securities Co. Ltd. now owns 4,143 shares of the technology company’s stock worth $361,000 after acquiring an additional 877 shares during the period.

Millicom International Cellular Trading Up 1.9%

TIGO stock opened at $79.82 on Wednesday. Millicom International Cellular has a 52-week low of $44.88 and a 52-week high of $107.13. The business has a 50-day simple moving average of $89.45 and a two-hundred day simple moving average of $82.28.

Millicom International Cellular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Friday, January 8th will be issued a $0.75 dividend. The ex-dividend date is Friday, January 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.8%.

Millicom International Cellular Company Profile

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

Its consumer offerings include wireless plans, home internet, television and digital entertainment services. Through Tigo Money and related financial technology products, Millicom also provides mobile money, digital payments and other financial services in selected markets.