Analysts Set Millicom International Cellular SA (NASDAQ:TIGO) Target Price at $38.23

Millicom International Cellular SA (NASDAQ:TIGO) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.08.

A number of brokerages have weighed in on TIGO. Scotiabank downgraded shares of Millicom International Cellular from a “sector outperform” rating to a “sector perform” rating and set a $37.00 price target for the company. in a report on Tuesday. Wall Street Zen downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Friday, May 30th. UBS Group increased their price target on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a “buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Finally, Barclays dropped their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently made changes to their positions in TIGO. Dodge & Cox bought a new position in shares of Millicom International Cellular during the 1st quarter worth about $263,401,000. Price T Rowe Associates Inc. MD lifted its holdings in Millicom International Cellular by 5,033.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company’s stock valued at $168,874,000 after purchasing an additional 5,470,214 shares during the last quarter. Boston Partners bought a new position in Millicom International Cellular during the 1st quarter valued at about $73,286,000. Southeastern Asset Management Inc. TN bought a new position in Millicom International Cellular during the 4th quarter valued at about $60,306,000. Finally, Goldman Sachs Group Inc. bought a new position in Millicom International Cellular during the 1st quarter valued at about $50,664,000.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock opened at $36.89 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65. Millicom International Cellular has a 1-year low of $22.59 and a 1-year high of $38.50. The firm has a fifty day simple moving average of $34.36 and a 200-day simple moving average of $29.53. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 17.74 and a beta of 1.08.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.23. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm earned $0.54 EPS. The business’s revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were issued a dividend of $0.75 per share. This represents a dividend yield of 3.9%. The ex-dividend date was Tuesday, April 8th. Millicom International Cellular’s payout ratio is 144.23%.

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.