JPMorgan Chase & Co. Has Lowered Expectations for Millicom International Cellular (NASDAQ:TIGO) Stock Price

Millicom International Cellular (NASDAQ:TIGO) had its price target cut by JPMorgan Chase & Co. from $36.00 to $33.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Separately, Scotiabank upgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $30.00 to $37.30 in a report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and an average price target of $30.26.

Millicom International Cellular Trading Up 0.4 %

Millicom International Cellular stock opened at $27.01 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The company has a 50 day moving average price of $25.36 and a 200-day moving average price of $25.92. Millicom International Cellular has a fifty-two week low of $15.55 and a fifty-two week high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Millicom International Cellular’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Millicom International Cellular will post 1.98 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio is presently 106.38%.

Institutional Trading of Millicom International Cellular

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Millicom International Cellular by 5.7% in the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock valued at $2,554,000 after acquiring an additional 5,624 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Millicom International Cellular by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after purchasing an additional 83,939 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Millicom International Cellular by 11.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock worth $477,000 after buying an additional 1,964 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Millicom International Cellular in the second quarter valued at about $884,000. Finally, AQR Capital Management LLC acquired a new stake in Millicom International Cellular in the second quarter worth about $215,000.

Millicom International Cellular Company Profile

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.