Millicom International Cellular (NASDAQ:TIGO) Rating Increased to Buy at HSBC

HSBC upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a hold rating to a buy rating in a report published on Wednesday morning, MarketBeat.com reports. The firm currently has $34.00 price objective on the technology company’s stock.

Separately, JPMorgan Chase & Co. cut their price target on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular has an average rating of “Buy” and a consensus target price of $32.26.

Millicom International Cellular Stock Performance

NASDAQ TIGO opened at $27.44 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The stock’s fifty day moving average is $25.44 and its two-hundred day moving average is $26.03. The firm has a market capitalization of $4.72 billion, a P/E ratio of 29.19 and a beta of 1.17. Millicom International Cellular has a fifty-two week low of $15.55 and a fifty-two week high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results 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). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm posted ($0.03) EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that Millicom International Cellular will post 2.05 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

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

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC boosted its holdings in Millicom International Cellular by 3.4% during the 3rd quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock valued at $490,000 after acquiring an additional 600 shares during the period. MML Investors Services LLC lifted its position in shares of Millicom International Cellular by 5.3% during the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after purchasing an additional 750 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Millicom International Cellular by 159.7% in the third 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 during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Millicom International Cellular by 11.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock valued at $477,000 after purchasing an additional 1,964 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in Millicom International Cellular during the 3rd quarter worth approximately $76,000.

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.