Analysts Set Millicom International Cellular S.A. (NASDAQ:TIGO) PT at $32.22

Millicom International Cellular S.A. (NASDAQ:TIGO) has received an average recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $32.22.

A number of research analysts recently issued reports on TIGO shares. Morgan Stanley started 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. JPMorgan Chase & Co. decreased their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, January 22nd.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its holdings in shares of Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company’s stock worth $227,000 after buying an additional 545 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Millicom International Cellular by 3.4% in the third quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock worth $490,000 after buying an additional 600 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Millicom International Cellular by 5.3% in the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after buying an additional 750 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock worth $176,000 after buying an additional 1,277 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 159.7% in the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after buying an additional 1,367 shares in the last quarter.

Millicom International Cellular Trading Down 0.8 %

Shares of NASDAQ TIGO opened at $26.99 on Monday. Millicom International Cellular has a 1 year low of $15.55 and a 1 year high of $28.75. The stock has a market cap of $4.64 billion, a P/E ratio of 28.71 and a beta of 1.18. The firm has a 50-day moving average of $25.78 and a 200 day moving average of $26.29. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Millicom International Cellular Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were given a $1.00 dividend. The ex-dividend date was Friday, January 3rd. Millicom International Cellular’s payout ratio is currently 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.