Millicom International Cellular S.A. (NASDAQ:TIGO) Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Millicom International Cellular S.A. (NASDAQ:TIGO) by 80.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,814 shares of the technology company’s stock after selling 11,574 shares during the quarter. JPMorgan Chase & Co.’s holdings in Millicom International Cellular were worth $76,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,367 shares in the last quarter. National Bank of Canada FI acquired a new stake in Millicom International Cellular during the 3rd quarter worth about $76,000. Point72 Asset Management L.P. purchased a new position in Millicom International Cellular during the third quarter valued at approximately $87,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Millicom International Cellular in the third quarter worth $168,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Millicom International Cellular during the 2nd quarter valued at about $215,000.

Millicom International Cellular Stock Down 0.9 %

TIGO stock opened at $26.45 on Tuesday. Millicom International Cellular S.A. has a 52-week low of $15.55 and a 52-week high of $28.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 28.14 and a beta of 1.18. The company has a 50-day moving average of $25.55 and a two-hundred day moving average of $26.13.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.38). The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share. As a group, equities research analysts anticipate that Millicom International Cellular S.A. will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

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

Wall Street Analysts Forecast Growth

TIGO has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective 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 raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.22.

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.