Millicom International Cellular (NASDAQ:TIGO) Coverage Initiated at Morgan Stanley

Morgan Stanley started coverage on shares of Millicom International Cellular (NASDAQ:TIGO) in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $32.00 target price on the technology company’s stock.

A number of other research analysts also recently commented on TIGO. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.22.

Millicom International Cellular Price Performance

NASDAQ:TIGO opened at $27.44 on Wednesday. Millicom International Cellular has a 52-week low of $15.55 and a 52-week high of $28.75. The company has a market cap of $4.72 billion, a P/E ratio of 29.19 and a beta of 1.17. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The stock’s 50-day simple moving average is $25.50 and its 200 day simple moving average is $26.09.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company earned ($0.03) EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts forecast that Millicom International Cellular will post 2.05 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The company 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 payout ratio is currently 106.38%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Millicom International Cellular by 159.7% in 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 during the period. National Bank of Canada FI acquired a new stake in Millicom International Cellular in the 3rd quarter worth about $76,000. Point72 Asset Management L.P. bought a new stake in Millicom International Cellular in the 3rd quarter valued at about $87,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth approximately $168,000. Finally, AQR Capital Management LLC bought a new position in shares of Millicom International Cellular during the second quarter worth approximately $215,000.

Millicom International Cellular Company Profile

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.