Millicom International Cellular (NASDAQ:TIGO) Stock Crosses Below 50 Day Moving Average – What’s Next?
by Sarita Garza · The Markets DailyMillicom International Cellular SA (NASDAQ:TIGO – Get Free Report)’s share price passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $93.95 and traded as low as $82.70. Millicom International Cellular shares last traded at $85.61, with a volume of 1,641,266 shares traded.
Wall Street Analyst Weigh In
Several research firms have issued reports on TIGO. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings cut Millicom International Cellular from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Scotiabank lifted their price objective on Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $105.00 price objective (up from $100.00) on shares of Millicom International Cellular in a research note on Tuesday, August 18th. Finally, UBS Group increased their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.68.
Millicom International Cellular Stock Performance
The business’s fifty day moving average is $93.83 and its two-hundred day moving average is $88.13. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $14.93 billion, a PE ratio of 22.30 and a beta of 0.93.
Millicom International Cellular Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, January 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, January 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.4%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 75.76%.
Institutional Investors Weigh In On Millicom International Cellular
A number of institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Millicom International Cellular by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock valued at $65,000 after acquiring an additional 139 shares during the last quarter. Triumph Capital Management increased its position in Millicom International Cellular by 3.0% during the second quarter. Triumph Capital Management now owns 5,170 shares of the technology company’s stock worth $469,000 after purchasing an additional 151 shares during the last quarter. Allworth Financial LP increased its position in Millicom International Cellular by 32.4% during the second quarter. Allworth Financial LP now owns 650 shares of the technology company’s stock worth $59,000 after purchasing an additional 159 shares during the last quarter. Altshuler Shaham Ltd raised its stake in Millicom International Cellular by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares during the period. Finally, Versant Capital Management Inc raised its stake in Millicom International Cellular by 896.7% during the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after purchasing an additional 269 shares during the period.
Millicom International Cellular Company Profile
Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.
Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.
Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.