Millicom International Cellular (NASDAQ:TIGO) Upgraded at Zacks Research

Zacks Research upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks reports.

A number of other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $105.00 target price (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Scotiabank upped their price target on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a research note on Friday, August 7th. Weiss Ratings downgraded Millicom International Cellular from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, August 21st. UBS Group lifted their price objective on Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada set a $105.00 target price on Millicom International Cellular in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.68.

Millicom International Cellular Stock Down 3.1%

Shares of TIGO opened at $87.95 on Tuesday. Millicom International Cellular has a fifty-two week low of $44.88 and a fifty-two week high of $107.13. The company’s fifty day moving average is $93.43 and its two-hundred day moving average is $88.72. The firm has a market cap of $14.86 billion, a PE ratio of 22.21 and a beta of 0.93. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07.

Millicom International Cellular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, January 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, January 8th. Millicom International Cellular’s dividend payout ratio is 75.76%.

Institutional Trading of Millicom International Cellular

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Millicom International Cellular by 49.1% during the third quarter. GAMMA Investing LLC now owns 1,729 shares of the technology company’s stock worth $151,000 after purchasing an additional 569 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Millicom International Cellular by 24.9% in the third quarter. Farther Finance Advisors LLC now owns 1,142 shares of the technology company’s stock valued at $100,000 after buying an additional 228 shares in the last quarter. Fig Financial Advisory Services Inc. ADV acquired a new stake in shares of Millicom International Cellular in the third quarter valued at about $1,186,000. Versant Capital Management Inc grew its stake in shares of Millicom International Cellular by 141.1% in the third quarter. Versant Capital Management Inc now owns 721 shares of the technology company’s stock valued at $63,000 after buying an additional 422 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Millicom International Cellular during the 2nd quarter valued at about $259,000.

Millicom International Cellular Company Profile

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.