Millicom International Cellular S.A. (NASDAQ:TIGO) Given Consensus Rating of “Buy” by Brokerages

Millicom International Cellular S.A. (NASDAQ:TIGO) has earned an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $33.98.

TIGO has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, January 22nd. Scotiabank raised 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 report on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its holdings in shares of Millicom International Cellular by 6.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company’s stock worth $227,000 after purchasing an additional 545 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Millicom International Cellular by 5.3% during the 3rd 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 during the last quarter. Principal Securities Inc. raised its position in shares of Millicom International Cellular by 22.2% during the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after buying an additional 1,277 shares during the period. Geode Capital Management LLC lifted its holdings in Millicom International Cellular by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock valued at $3,868,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Blue Trust Inc. increased its stake 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 acquiring an additional 1,544 shares during the last quarter.

Millicom International Cellular Stock Up 0.2 %

NASDAQ:TIGO opened at $30.27 on Tuesday. The company’s 50-day simple moving average is $28.05 and its 200-day simple moving average is $26.87. 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 has a fifty-two week low of $19.50 and a fifty-two week high of $31.63. The stock has a market capitalization of $5.21 billion, a P/E ratio of 32.20 and a beta of 1.23.

Millicom International Cellular Announces Dividend

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

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.