Millicom International Cellular (NASDAQ:TIGO) Price Target Raised to $51.20 at Scotiabank

Millicom International Cellular (NASDAQ:TIGO) had its price target upped by Scotiabank from $43.00 to $51.20 in a research note issued to investors on Monday,Benzinga reports. Scotiabank currently has a sector underperform rating on the technology company’s stock.

Several other research firms also recently issued reports on TIGO. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Zacks Research cut Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Wall Street Zen lowered Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.70.

Millicom International Cellular Stock Down 2.9%

NASDAQ:TIGO opened at $73.13 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. Millicom International Cellular has a twelve month low of $26.35 and a twelve month high of $77.33. The company has a market cap of $12.59 billion, a PE ratio of 9.32 and a beta of 0.90. The company’s 50 day moving average is $67.95 and its two-hundred day moving average is $56.78.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company posted $0.18 earnings per share. The business’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current year.

Millicom International Cellular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is 38.22%.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its position in Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after purchasing an additional 314 shares during the period. Allworth Financial LP lifted its holdings in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Millicom International Cellular in the 3rd quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Millicom International Cellular in the fourth quarter worth about $26,000. Finally, Blue Trust Inc. grew its holdings in Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares during the period.

About Millicom International Cellular

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.