Millicom International Cellular (NASDAQ:TIGO) Announces Earnings Results

Millicom International Cellular (NASDAQ:TIGO) posted its quarterly earnings results on Thursday. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.58), Zacks reports. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock traded down $0.71 during trading on Thursday, hitting $27.15. 773,988 shares of the company’s stock were exchanged, compared to its average volume of 362,080. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 28.88 and a beta of 1.18. The business has a 50-day simple moving average of $26.14 and a 200-day simple moving average of $26.38. Millicom International Cellular has a 52-week low of $17.62 and a 52-week high of $28.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 10th. Stockholders 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 payout ratio is currently 106.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TIGO. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, January 22nd. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research 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 on the stock in a research report on Thursday, January 16th. Finally, Morgan Stanley began coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Buy” and a consensus target price of $32.22.

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.