Millicom International Cellular S.A. (NASDAQ:TIGO) Given Average Recommendation of “Moderate Buy” by Brokerages

Millicom International Cellular S.A. (NASDAQ:TIGO) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $30.66.

TIGO has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $30.00 to $37.30 in a research note on Friday, September 20th.

Millicom International Cellular Stock Up 1.9 %

TIGO stock traded up $0.50 during trading on Thursday, reaching $27.41. 80,755 shares of the company’s stock were exchanged, compared to its average volume of 288,183. 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 has a 1-year low of $15.55 and a 1-year high of $28.75. The company’s fifty day moving average price is $25.34 and its 200-day moving average price is $25.91.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted ($0.03) EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts predict that Millicom International Cellular 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. Stockholders 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 presently 106.38%.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 83,939 shares during the period. Millennium Management LLC raised 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 valued at $6,638,000 after buying an additional 157,205 shares during the period. AQR Capital Management LLC acquired a new position in Millicom International Cellular during the second quarter valued at $215,000. MML Investors Services LLC raised its position in Millicom International Cellular by 5.3% during the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock valued at $402,000 after buying an additional 750 shares during the period. Finally, Envestnet Asset Management Inc. raised 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 valued at $2,554,000 after buying 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.