Millicom International Cellular (NASDAQ:TIGO) Shares Gap Down – Should You Sell?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) gapped down before the market opened on Tuesday . The stock had previously closed at $78.50, but opened at $72.97. Millicom International Cellular shares last traded at $76.59, with a volume of 578,639 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TIGO. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Friday, March 6th. Wall Street Zen cut Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Millicom International Cellular Price Performance

The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average price is $77.72 and its two-hundred day moving average price is $63.43. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 10.29 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. Analysts anticipate that Millicom International Cellular SA will post 3.23 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.7%. Millicom International Cellular’s dividend payout ratio is currently 38.22%.

Institutional Trading of Millicom International Cellular

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC bought a new position in shares of Millicom International Cellular in the 3rd quarter valued at approximately $4,010,000. State of Alaska Department of Revenue bought a new stake in shares of Millicom International Cellular during the 3rd quarter worth $970,000. Plato Investment Management Ltd bought a new stake in shares of Millicom International Cellular during the 3rd quarter worth $875,000. JPMorgan Chase & Co. grew its stake in Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after buying an additional 5,020,602 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Millicom International Cellular by 15.0% in the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company’s stock worth $6,230,000 after acquiring an additional 16,695 shares during the period.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.