Scotiabank Issues Positive Forecast for Millicom International Cellular (NASDAQ:TIGO) Stock Price

Millicom International Cellular (NASDAQ:TIGO) had its price objective upped by Scotiabank from $37.30 to $37.90 in a report published on Friday,Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the company. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Wednesday, January 22nd. Morgan Stanley began coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Stock Performance

TIGO opened at $26.28 on Friday. The company has a market capitalization of $4.52 billion, a PE ratio of 27.96 and a beta of 1.18. 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 business has a fifty day simple moving average of $26.23 and a 200 day simple moving average of $26.39. Millicom International Cellular has a 1 year low of $17.62 and a 1 year high of $28.98.

Millicom International Cellular Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 10th. Stockholders 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 dividend payout ratio (DPR) is currently 106.38%.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors have recently modified their holdings of TIGO. Blue Trust Inc. raised its holdings in shares of Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after buying an additional 1,367 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Millicom International Cellular by 95.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock worth $2,930,000 after purchasing an additional 52,638 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Millicom International Cellular in the 3rd quarter worth about $168,000. Point72 Asset Management L.P. acquired a new position in Millicom International Cellular in the 3rd quarter worth about $87,000. Finally, Quantinno Capital Management LP acquired a new position in Millicom International Cellular in the 3rd quarter worth about $261,000.

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.