Millicom International Cellular (NASDAQ:TIGO) Shares Gap Up – Time to Buy?

Millicom International Cellular S.A. (NASDAQ:TIGOGet Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $24.61, but opened at $26.94. Millicom International Cellular shares last traded at $27.45, with a volume of 221,787 shares.

Analyst Upgrades and Downgrades

Separately, Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $30.00 to $37.30 in a report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.66.

Read Our Latest Stock Analysis on Millicom International Cellular

Millicom International Cellular Stock Up 11.3 %

The stock has a market cap of $2.79 billion, a P/E ratio of 29.15 and a beta of 1.17. The firm has a 50 day simple moving average of $25.34 and a two-hundred day simple moving average of $25.90. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular (NASDAQ:TIGOGet Free Report) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) 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 quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that Millicom International Cellular S.A. will post 1.98 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC boosted its position in Millicom International Cellular by 3.4% during the third quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock valued at $490,000 after purchasing an additional 600 shares during the last quarter. MML Investors Services LLC boosted its position in 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 valued at $402,000 after purchasing an additional 750 shares during the last quarter. Blue Trust Inc. boosted its position in Millicom International Cellular by 159.7% during 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 last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Millicom International Cellular by 11.2% during 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 during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Millicom International Cellular in the third quarter worth about $76,000.

Millicom International Cellular Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Millicom International Cellular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Millicom International Cellular and related companies with MarketBeat.com's FREE daily email newsletter.