JPMorgan Chase & Co. Issues Positive Forecast for Millicom International Cellular (NASDAQ:TIGO) Stock Price

Millicom International Cellular (NASDAQ:TIGO) had its price target increased by JPMorgan Chase & Co. from $50.00 to $55.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also commented on TIGO. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. UBS Group boosted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a “buy” rating in a research note on Friday, May 16th. Finally, Scotiabank downgraded shares of Millicom International Cellular from a “sector outperform” rating to a “sector perform” rating and set a $37.00 price objective on the stock. in a research report on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Millicom International Cellular has a consensus rating of “Moderate Buy” and a consensus price target of $38.92.

Millicom International Cellular Price Performance

NASDAQ TIGO opened at $44.09 on Thursday. Millicom International Cellular has a 52 week low of $23.61 and a 52 week high of $44.56. The company has a market cap of $7.59 billion, a PE ratio of 7.78 and a beta of 1.04. The company has a quick ratio of 0.74, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The firm’s 50-day simple moving average is $38.93 and its two-hundred day simple moving average is $33.59.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. Research analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.8%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 52.91%.

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas purchased a new position in shares of Millicom International Cellular during the first quarter valued at about $1,402,000. KBC Group NV purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at $233,000. CWA Asset Management Group LLC lifted its position in Millicom International Cellular by 34.3% during the first quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company’s stock valued at $373,000 after acquiring an additional 3,141 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Millicom International Cellular during the first quarter valued at about $1,648,000. Finally, Two Sigma Advisers LP acquired a new stake in Millicom International Cellular during the 4th quarter worth about $988,000.

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.