Analysts Set Millicom International Cellular SA (NASDAQ:TIGO) PT at $77.28

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $77.28.

Several research firms have recently weighed in on TIGO. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank boosted their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research report on Tuesday, May 26th.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the sale, the insider owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the stock. CTC Alternative Strategies Ltd. bought a new stake in shares of Millicom International Cellular during the 1st quarter valued at about $600,000. Bank of America Corp DE grew its position in shares of Millicom International Cellular by 22.0% during the 1st quarter. Bank of America Corp DE now owns 243,778 shares of the technology company’s stock valued at $18,269,000 after buying an additional 43,947 shares during the last quarter. Altshuler Shaham Ltd grew its position in shares of Millicom International Cellular by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock valued at $47,000 after buying an additional 170 shares during the last quarter. Amundi grew its position in shares of Millicom International Cellular by 120.8% during the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock valued at $39,713,000 after buying an additional 289,913 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Millicom International Cellular by 44.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the technology company’s stock valued at $267,000 after buying an additional 1,098 shares during the last quarter.

Millicom International Cellular Stock Performance

Millicom International Cellular stock opened at $87.29 on Friday. Millicom International Cellular has a 12-month low of $35.62 and a 12-month high of $89.49. The company has a market capitalization of $14.75 billion, a price-to-earnings ratio of 11.86 and a beta of 0.91. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The firm’s fifty day moving average price is $81.87 and its 200 day moving average price is $67.98.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. On average, research analysts forecast that Millicom International Cellular will post 2.34 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.4%. Millicom International Cellular’s payout ratio is presently 40.76%.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.