Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $35.65 Average Target Price from Brokerages

Millicom International Cellular S.A. (NASDAQ:TIGO) has received an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $35.65.

TIGO has been the topic of a number of research reports. Scotiabank raised their price target on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. Morgan Stanley started coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price on the stock. HSBC raised shares of 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 dropped their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $33.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd.

Institutional Investors Weigh In On Millicom International Cellular

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

Millicom International Cellular Stock Down 1.1 %

Shares of Millicom International Cellular stock opened at $33.47 on Friday. Millicom International Cellular has a twelve month low of $21.21 and a twelve month high of $34.68. 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’s 50 day moving average is $29.93 and its 200 day moving average is $27.50. 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 Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s payout ratio is 202.70%.

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.