Millicom International Cellular (NASDAQ:TIGO) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Millicom International Cellular (NASDAQ:TIGO) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently commented on TIGO. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased 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 research note 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. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $32.26.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $27.78 on Wednesday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 29.55 and a beta of 1.17. The stock has a fifty day moving average of $25.36 and a 200 day moving average of $25.99. Millicom International Cellular has a 52 week low of $15.55 and a 52 week high of $28.75. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts expect that Millicom International Cellular will post 2.05 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

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

Institutional Trading of Millicom International Cellular

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Millicom International Cellular by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock valued at $2,554,000 after acquiring an additional 5,624 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Millicom International Cellular by 11.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock worth $477,000 after purchasing an additional 1,964 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Millicom International Cellular in the second quarter worth approximately $884,000. AQR Capital Management LLC bought a new stake in Millicom International Cellular during the second quarter valued at approximately $215,000. Finally, Millennium Management LLC increased its holdings in Millicom International Cellular by 138.9% during the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after buying an additional 157,205 shares during the last quarter.

About Millicom International Cellular

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.