Millicom International Cellular (NASDAQ:TIGO) Upgraded at Zacks Research

Zacks Research upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other research firms have also recently commented on TIGO. Morgan Stanley restated a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Friday, March 6th. Wall Street Zen cut Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Scotiabank upped their price target on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research note on Monday, March 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Millicom International Cellular Stock Down 1.0%

NASDAQ:TIGO opened at $80.48 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The stock’s fifty day moving average is $70.57 and its two-hundred day moving average is $58.24. Millicom International Cellular has a 52 week low of $26.35 and a 52 week high of $82.10. The stock has a market capitalization of $13.60 billion, a price-to-earnings ratio of 10.25 and a beta of 0.87.

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

Millicom International Cellular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is presently 38.22%.

Institutional Trading of Millicom International Cellular

Several hedge funds have recently modified their holdings of TIGO. Smartleaf Asset Management LLC increased its holdings in Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares during the last quarter. Allworth Financial LP increased its holdings in Millicom International Cellular by 1,129.7% in the fourth 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 last quarter. Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular in the third quarter valued at $26,000. Altshuler Shaham Ltd purchased a new position in Millicom International Cellular in the fourth quarter valued at $26,000. Finally, Blue Trust Inc. increased its holdings in Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after buying an additional 427 shares during the last quarter.

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.