JPMorgan Chase & Co. Issues Positive Forecast for Millicom International Cellular (NASDAQ:TIGO) Stock Price

Millicom International Cellular (NASDAQ:TIGO) had its price objective upped by JPMorgan Chase & Co. from $33.00 to $41.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently weighed in on TIGO. Morgan Stanley started coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price for the company. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, January 22nd. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Scotiabank boosted their price target on 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. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.65.

Millicom International Cellular Stock Down 6.6 %

NASDAQ TIGO opened at $28.49 on Thursday. 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 has a fifty-two week low of $19.50 and a fifty-two week high of $31.63. The business has a 50 day moving average price of $28.21 and a two-hundred day moving average price of $26.94. The stock has a market cap of $4.90 billion, a PE ratio of 30.31 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

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

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in Millicom International Cellular in the fourth quarter worth about $49,000. National Bank of Canada FI bought a new position in Millicom International Cellular during the 3rd quarter worth approximately $76,000. Point72 Asset Management L.P. bought a new position in Millicom International Cellular during the 3rd quarter worth approximately $87,000. Blue Trust Inc. grew its position in shares of Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,544 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings 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 acquiring an additional 2,055 shares during 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.