Millicom International Cellular S.A. (NASDAQ:TIGO) Receives $32.22 Average Price Target from Analysts

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have received a consensus rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.22.

Several brokerages have recently weighed in on TIGO. JPMorgan Chase & Co. reduced their target price 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, January 16th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, January 22nd. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley started coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brandes Investment Partners LP grew its holdings in Millicom International Cellular by 1.5% during the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after acquiring an additional 68,061 shares in the last quarter. LB Partners LLC grew its holdings in Millicom International Cellular by 1.4% during the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock worth $12,978,000 after acquiring an additional 7,000 shares in the last quarter. Park West Asset Management LLC bought a new position in Millicom International Cellular during the 4th quarter worth about $6,165,000. Charles Schwab Investment Management Inc. grew its holdings in Millicom International Cellular by 47.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock worth $3,993,000 after acquiring an additional 51,620 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Millicom International Cellular by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock valued at $3,868,000 after buying an additional 1,500 shares in the last quarter.

Millicom International Cellular Trading Down 0.8 %

Shares of TIGO opened at $26.99 on Monday. Millicom International Cellular has a twelve month low of $15.55 and a twelve month high of $28.75. The company has a market cap of $4.64 billion, a P/E ratio of 28.71 and a beta of 1.18. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The company’s fifty day simple moving average is $25.78 and its 200-day simple moving average is $26.29.

Millicom International Cellular Cuts Dividend

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

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.