Brokerages Set Millicom International Cellular S.A. (NASDAQ:TIGO) Price Target at $33.98

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $33.98.

A number of research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research report on Friday, February 28th. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Wednesday, January 22nd.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $28.53 on Friday. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 30.35 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular has a 1 year low of $18.09 and a 1 year high of $29.20. The firm has a 50 day moving average price of $26.51 and a 200 day moving average price of $26.45.

Millicom International Cellular Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be given a $0.75 dividend. The ex-dividend date is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio is presently 202.70%.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brandes Investment Partners LP lifted its holdings in Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock valued at $114,402,000 after acquiring an additional 68,061 shares during the last quarter. Southeastern Asset Management Inc. TN acquired a new stake in shares of Millicom International Cellular during the fourth quarter worth approximately $60,306,000. LB Partners LLC raised its position in Millicom International Cellular by 1.4% during the fourth quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock valued at $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 fourth quarter valued at approximately $6,165,000. Finally, Charles Schwab Investment Management Inc. raised its position in Millicom International Cellular by 47.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock valued at $3,993,000 after acquiring an additional 51,620 shares in the last quarter.

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.