Millicom International Cellular (NASDAQ:TIGO) Shares Gap Down – Here’s Why

Millicom International Cellular S.A. (NASDAQ:TIGO) gapped down before the market opened on Friday . The stock had previously closed at $25.13, but opened at $24.06. Millicom International Cellular shares last traded at $24.03, with a volume of 17,219 shares.

Analysts Set New Price Targets

Separately, Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $30.00 to $37.30 in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.66.

Millicom International Cellular Price Performance

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 capitalization of $2.49 billion, a price-to-earnings ratio of 26.04 and a beta of 1.17. The company has a 50 day moving average of $25.74 and a 200 day moving average of $25.81.

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 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that Millicom International Cellular S.A. will post 1.98 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, January 3rd will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, January 3rd. Millicom International Cellular’s dividend payout ratio (DPR) is 280.85%.

Institutional Trading of Millicom International Cellular

A number of institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC lifted 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 buying an additional 600 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Millicom International Cellular by 5.3% during the 3rd 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. increased its holdings in Millicom International Cellular by 159.7% in the 3rd 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 in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Millicom International Cellular by 11.2% in 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 period. Finally, National Bank of Canada FI acquired a new position in shares of Millicom International Cellular during the third quarter worth about $76,000.

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.