Millicom International Cellular (NASDAQ:TIGO) Upgraded by HSBC to Buy Rating

HSBC upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a hold rating to a buy rating in a research report report published on Wednesday, MarketBeat reports. They currently have $34.00 price target on the technology company’s stock.

Separately, JPMorgan Chase & Co. dropped their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.26.

Millicom International Cellular Trading Up 1.2 %

NASDAQ:TIGO opened at $27.78 on Wednesday. Millicom International Cellular has a 52-week low of $15.55 and a 52-week high of $28.75. 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 stock has a fifty day simple moving average of $25.36 and a 200-day simple moving average of $25.99. The company has a market capitalization of $4.78 billion, a PE ratio of 29.55 and a beta of 1.17.

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 the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts expect that Millicom International Cellular will post 2.05 earnings per share for the current fiscal year.

Millicom International Cellular Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were paid a dividend of $1.00 per share. The ex-dividend date was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio is presently 106.38%.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in Millicom International Cellular by 69.5% during the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after buying an additional 1,544 shares during the period. Perpetual Ltd purchased a new position in shares of Millicom International Cellular during the 4th quarter worth about $1,587,000. TT International Asset Management LTD acquired a new stake in shares of Millicom International Cellular in the fourth quarter worth approximately $252,000. CWA Asset Management Group LLC purchased a new stake in Millicom International Cellular in the fourth quarter valued at approximately $229,000. Finally, Tidal Investments LLC acquired a new position in Millicom International Cellular during the third quarter worth approximately $602,000.

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.