Millicom International Cellular (NASDAQ:TIGO) Now Covered by Morgan Stanley

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

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

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $27.44 on Wednesday. The business’s 50-day simple moving average is $25.50 and its 200 day simple moving average is $26.09. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 29.19 and a beta of 1.17. Millicom International Cellular has a 12-month low of $15.55 and a 12-month high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last issued 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). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that Millicom International Cellular will post 2.05 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Perpetual Ltd acquired a new stake in shares of Millicom International Cellular during the fourth quarter worth $1,587,000. Millennium Management LLC raised its stake in shares of Millicom International Cellular by 138.9% in the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after purchasing an additional 157,205 shares during the period. AQR Capital Management LLC bought a new stake in shares of Millicom International Cellular in the second quarter valued at about $215,000. MML Investors Services LLC boosted its position in shares of 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 worth $402,000 after buying an additional 750 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Millicom International Cellular by 5.7% during the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock worth $2,554,000 after buying an additional 5,624 shares in 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.