Barclays Has Lowered Expectations for Millicom International Cellular (NASDAQ:TIGO) Stock Price

Millicom International Cellular (NASDAQ:TIGO) had its price target cut by Barclays from $310.00 to $36.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

TIGO has been the subject of a number of other reports. Scotiabank boosted their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $33.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday. 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. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley started coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price on the stock. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.65.

Millicom International Cellular Stock Down 6.6 %

Millicom International Cellular stock opened at $28.49 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 1-year low of $19.50 and a 1-year high of $31.63. The firm’s fifty day simple moving average is $28.21 and its 200-day simple moving average is $26.94. The company has a market capitalization of $4.90 billion, a P/E ratio of 30.31 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be given a $0.75 dividend. The ex-dividend date is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio is currently 202.70%.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at about $49,000. National Bank of Canada FI acquired a new position in Millicom International Cellular in the third quarter worth about $76,000. Point72 Asset Management L.P. bought a new position in Millicom International Cellular during the third quarter worth about $87,000. Blue Trust Inc. boosted its holdings in Millicom International Cellular by 69.5% during the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after purchasing an additional 1,544 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,055 shares during the period.

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.