Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $32.22 Consensus Target Price from Analysts

Millicom International Cellular S.A. (NASDAQ:TIGO) has earned an average recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.22.

Several brokerages recently weighed in on TIGO. JPMorgan Chase & Co. dropped their target price on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley assumed 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 on the stock. HSBC raised 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. Finally, Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd.

Institutional Investors Weigh In On Millicom International Cellular

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Millicom International Cellular by 159.7% in the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,367 shares during the last quarter. National Bank of Canada FI acquired a new position in Millicom International Cellular in the third quarter valued at approximately $76,000. Point72 Asset Management L.P. acquired a new position in Millicom International Cellular in the third quarter valued at approximately $87,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Millicom International Cellular in the third quarter valued at approximately $168,000. Finally, Principal Securities Inc. lifted its holdings in Millicom International Cellular by 22.2% in 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 during the last quarter.

Millicom International Cellular Trading Up 1.5 %

Shares of NASDAQ:TIGO opened at $27.14 on Monday. Millicom International Cellular has a 12-month low of $15.55 and a 12-month high of $28.75. The business’s fifty day simple moving average is $25.72 and its 200-day simple moving average is $26.24. The company has a market capitalization of $4.67 billion, a PE ratio of 28.87 and a beta of 1.18. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 10th. Investors of record on Friday, January 3rd were paid 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%.

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.