Brokerages Set Millicom International Cellular S.A. (NASDAQ:TIGO) Price Target at $30.66

Millicom International Cellular S.A. (NASDAQ:TIGO) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $30.26.

Separately, JPMorgan Chase & Co. dropped their price target on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Perpetual Ltd acquired a new position in shares of Millicom International Cellular in the fourth quarter valued at $1,587,000. TT International Asset Management LTD acquired a new position in shares of Millicom International Cellular in the fourth quarter valued at $252,000. CWA Asset Management Group LLC acquired a new position in shares of Millicom International Cellular in the fourth quarter valued at $229,000. Tidal Investments LLC acquired a new position in Millicom International Cellular during the third quarter worth $602,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Millicom International Cellular during the third quarter worth $508,000.

Millicom International Cellular Stock Performance

TIGO stock opened at $27.01 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 1-year low of $15.55 and a 1-year high of $28.75. The firm has a fifty day moving average price of $25.35 and a two-hundred day moving average price of $25.95.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.38). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business’s revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. As a group, analysts anticipate that Millicom International Cellular will post 1.98 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

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

About Millicom International Cellular

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.