Analysts Set Millicom International Cellular S.A. (NASDAQ:TIGO) Target Price at $33.98

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have received a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $33.98.

A number of equities research analysts have weighed in on TIGO shares. Scotiabank lifted their price target on shares of 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. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley assumed coverage on Millicom International Cellular in a report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price objective for the company.

Millicom International Cellular Stock Up 1.1 %

TIGO opened at $28.53 on Friday. Millicom International Cellular has a fifty-two week low of $18.09 and a fifty-two week high of $29.20. 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 firm’s fifty day moving average price is $26.51 and its two-hundred day moving average price is $26.45. The company has a market capitalization of $4.91 billion, a P/E ratio of 30.35 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be issued a $0.75 dividend. This represents a dividend yield of 3.9%. The ex-dividend date is Tuesday, April 8th. Millicom International Cellular’s payout ratio is presently 202.70%.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently made changes to their positions in the stock. Brandes Investment Partners LP boosted its holdings in shares of Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock valued at $114,402,000 after buying an additional 68,061 shares during the last quarter. Southeastern Asset Management Inc. TN bought a new position in Millicom International Cellular during the 4th quarter worth $60,306,000. LB Partners LLC increased its position in Millicom International Cellular by 1.4% during the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock worth $12,978,000 after buying an additional 7,000 shares during the period. Park West Asset Management LLC bought a new position in Millicom International Cellular during the 4th quarter worth $6,165,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Millicom International Cellular by 47.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock worth $3,993,000 after purchasing an additional 51,620 shares in the last quarter.

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.