Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $30.66 Consensus Price Target from Brokerages

Millicom International Cellular S.A. (NASDAQ:TIGO) has received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $30.26.

Separately, JPMorgan Chase & Co. cut their price target on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $27.01 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a 50 day moving average of $25.35 and a 200 day moving average of $25.95. Millicom International Cellular has a twelve month low of $15.55 and a twelve month high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned ($0.03) EPS. The company’s revenue was up .5% on a year-over-year basis. Analysts predict that Millicom International Cellular will post 1.98 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio is currently 106.38%.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of Millicom International Cellular by 35.4% during the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after purchasing an additional 83,939 shares during the period. Millennium Management LLC raised its stake in shares of Millicom International Cellular by 138.9% during the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after purchasing an additional 157,205 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Millicom International Cellular during the second quarter valued at approximately $215,000. MML Investors Services LLC raised its stake in shares of Millicom International Cellular by 5.3% during the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock valued at $402,000 after purchasing an additional 750 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Millicom International Cellular by 5.7% during the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock valued at $2,554,000 after purchasing an additional 5,624 shares during the period.

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.