Millicom International Cellular (NASDAQ:TIGO) Shares Gap Up – Should You Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO) shares gapped up before the market opened on Wednesday . The stock had previously closed at $24.61, but opened at $26.94. Millicom International Cellular shares last traded at $27.45, with a volume of 221,787 shares trading hands.

Wall Street Analysts Forecast Growth

TIGO has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday. Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $30.00 to $37.30 in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average target price of $30.26.

Millicom International Cellular Stock Performance

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The stock’s 50-day moving average price is $25.36 and its 200 day moving average price is $25.92.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts predict that Millicom International Cellular S.A. will post 1.98 earnings per share for the current fiscal year.

Millicom International Cellular Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, January 10th. Investors of record on Friday, January 3rd were given a dividend of $1.00 per share. The ex-dividend date was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio (DPR) is currently 106.38%.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LB Partners LLC increased its position in Millicom International Cellular by 2.0% during the third quarter. LB Partners LLC now owns 511,923 shares of the technology company’s stock worth $13,883,000 after acquiring an additional 9,923 shares during the period. Renaissance Technologies LLC increased its position in Millicom International Cellular by 35.4% during the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after acquiring an additional 83,939 shares during the period. Millennium Management LLC increased its position in Millicom International Cellular by 138.9% during the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after acquiring an additional 157,205 shares during the period. Charles Schwab Investment Management Inc. increased its position in Millicom International Cellular by 95.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock worth $2,930,000 after acquiring an additional 52,638 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Millicom International Cellular by 5.7% during the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock worth $2,554,000 after acquiring an additional 5,624 shares during the period.

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.