Skandinaviska Enskilda Banken AB publ Acquires New Shares in Millicom International Cellular SA (NASDAQ:TIGO)

Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 182,867 shares of the technology company’s stock, valued at approximately $5,535,000. Skandinaviska Enskilda Banken AB publ owned 0.11% of Millicom International Cellular at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new stake in Millicom International Cellular during the 4th quarter valued at $49,000. Wells Fargo & Company MN raised its holdings in Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after acquiring an additional 2,055 shares during the period. EWA LLC bought a new stake in Millicom International Cellular during the 1st quarter valued at $201,000. Spinnaker Trust bought a new stake in Millicom International Cellular during the 1st quarter valued at $212,000. Finally, KBC Group NV bought a new stake in Millicom International Cellular during the 1st quarter valued at $233,000.

Analysts Set New Price Targets

TIGO has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Scotiabank lowered shares of Millicom International Cellular from a “sector outperform” rating to a “sector perform” rating and set a $37.00 price target for the company. in a research report on Tuesday, June 17th. UBS Group boosted their price target on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a “buy” rating in a research report on Friday, May 16th. Wall Street Zen lowered shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 30th. Finally, Barclays reduced their price target on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.08.

Millicom International Cellular Stock Down 0.7%

Shares of NASDAQ:TIGO opened at $40.40 on Monday. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $43.03. The firm has a fifty day moving average of $37.64 and a 200 day moving average of $32.23. The firm has a market capitalization of $6.95 billion, a PE ratio of 19.42 and a beta of 1.06. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, research analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.00 annualized dividend and a yield of 7.43%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 144.23%.

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.