Millicom International Cellular (NASDAQ:TIGO) Stock Price Up 3.4% After Analyst Upgrade

Millicom International Cellular S.A. (NASDAQ:TIGO) rose 3.4% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $33.00 to $41.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Millicom International Cellular traded as high as $30.54 and last traded at $30.53. Approximately 969,825 shares were traded during mid-day trading, an increase of 269% from the average daily volume of 263,077 shares. The stock had previously closed at $29.53.

TIGO has been the topic of several other reports. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Morgan Stanley started coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price for the company. Finally, Scotiabank lifted their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research note on Friday, February 28th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming acquired a new position in Millicom International Cellular in the fourth quarter valued at approximately $49,000. National Bank of Canada FI purchased a new position in shares of Millicom International Cellular in the 3rd quarter valued at $76,000. Point72 Asset Management L.P. acquired a new stake in Millicom International Cellular during the 3rd quarter worth $87,000. Blue Trust Inc. lifted its position in Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after acquiring an additional 2,055 shares in the last quarter.

Millicom International Cellular Stock Performance

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 market cap of $4.90 billion, a PE ratio of 30.31 and a beta of 1.23. The firm has a fifty day simple moving average of $28.21 and a 200-day simple moving average of $26.94.

Millicom International Cellular Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be given a dividend of $0.75 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) 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.