Millicom International Cellular (NASDAQ:TIGO) Shares Gap Up – Should You Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO) shares gapped up prior to trading 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 traded.

Analysts Set New Price Targets

TIGO has been the subject of several recent analyst reports. Scotiabank upgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $30.00 to $37.30 in a report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average price target of $30.26.

Millicom International Cellular Stock Up 0.4 %

The firm’s fifty day simple moving average is $25.36 and its 200 day simple moving average is $25.92. 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 posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.38). The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, analysts anticipate that Millicom International Cellular S.A. will post 1.98 earnings per share for the current fiscal year.

Millicom International Cellular Cuts Dividend

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

Institutional Trading of Millicom International Cellular

Several institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC boosted its holdings in shares of Millicom International Cellular by 3.4% during the third quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock worth $490,000 after purchasing an additional 600 shares during the period. MML Investors Services LLC raised 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 acquiring an additional 750 shares in the last quarter. Blue Trust Inc. raised 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 acquiring an additional 1,367 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised 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 acquiring an additional 1,964 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in Millicom International Cellular during the third quarter valued at approximately $76,000.

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.