Millicom International Cellular SA (NASDAQ:TIGO) Stock Has Average Target Price of $85.68

Millicom International Cellular SA (NASDAQ:TIGO) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $85.68.

A number of research analysts have issued reports on the company. Royal Bank Of Canada set a $105.00 price target on Millicom International Cellular in a research report on Tuesday, August 18th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Scotiabank lifted their price objective on shares of Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research note on Friday, August 7th. UBS Group upped their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $105.00 target price (up from $100.00) on shares of Millicom International Cellular in a research report on Tuesday, August 18th.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $90.77 on Friday. Millicom International Cellular has a 12-month low of $44.88 and a 12-month high of $107.13. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 22.92 and a beta of 0.93. The business has a 50 day simple moving average of $93.57 and a 200 day simple moving average of $88.61. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.53 and a quick ratio of 0.51.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Friday, January 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, January 8th. Millicom International Cellular’s dividend payout ratio is currently 75.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in shares of Millicom International Cellular in the fourth quarter valued at $55,440,000. Cullen Capital Management LLC acquired a new stake in Millicom International Cellular during the second quarter valued at approximately $71,258,000. Renaissance Technologies LLC lifted its stake in Millicom International Cellular by 18.9% during the first quarter. Renaissance Technologies LLC now owns 549,792 shares of the technology company’s stock valued at $41,201,000 after purchasing an additional 87,400 shares during the last quarter. Sei Investments Co. boosted its holdings in Millicom International Cellular by 31.7% during the first quarter. Sei Investments Co. now owns 546,999 shares of the technology company’s stock worth $40,990,000 after buying an additional 131,580 shares in the last quarter. Finally, Amundi boosted its holdings in Millicom International Cellular by 120.8% during the first quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after buying an additional 289,913 shares in the last quarter.

About Millicom International Cellular

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.