Millicom International Cellular S.A. (NASDAQ:TIGO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Millicom International Cellular S.A. (NASDAQ:TIGO) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $35.65.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Wednesday, January 22nd. Barclays lowered their price objective on Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd.

Institutional Trading of Millicom International Cellular

A number of hedge funds and other institutional investors have recently bought and sold shares of TIGO. State of Wyoming bought a new position in shares of Millicom International Cellular in the fourth quarter worth about $49,000. Blue Trust Inc. grew its stake in Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,544 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock worth $122,000 after acquiring an additional 2,055 shares during the period. Principal Securities Inc. raised its stake in shares of Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after acquiring an additional 1,277 shares in the last quarter. Finally, EWA LLC purchased a new stake in shares of Millicom International Cellular in the first quarter valued at approximately $201,000.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $33.47 on Friday. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 35.61 and a beta of 1.03. Millicom International Cellular has a 1 year low of $21.21 and a 1 year high of $34.68. The stock’s 50 day simple moving average is $29.93 and its two-hundred day simple moving average is $27.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Millicom International Cellular Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Investors 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 of this dividend was Tuesday, April 8th. Millicom International Cellular’s payout ratio is currently 202.70%.

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.