Millicom International Cellular (NASDAQ:TIGO) Given New $41.00 Price Target at JPMorgan Chase & Co.

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

Several other equities research analysts have also commented on the company. 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 research report on Wednesday, January 22nd. Hsbc Global Res upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. 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 price objective for the company. Finally, Scotiabank boosted their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research report on Friday, February 28th. Two research 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.65.

Millicom International Cellular Trading Down 1.3 %

Shares of TIGO stock traded down $0.37 during trading hours on Thursday, hitting $26.81. 713,813 shares of the company's stock traded hands, compared to its average volume of 274,081. The stock has a market cap of $4.61 billion, a PE ratio of 28.66 and a beta of 0.90. The stock's 50 day simple moving average is $28.22 and its 200 day simple moving average is $26.95. 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 12 month low of $19.50 and a 12 month high of $31.63.

Millicom International Cellular Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $49,000. National Bank of Canada FI purchased a new stake in Millicom International Cellular during the third quarter worth about $76,000. Point72 Asset Management L.P. purchased a new stake in Millicom International Cellular during the third quarter worth about $87,000. Blue Trust Inc. raised its position in Millicom International Cellular by 69.5% in the fourth 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 during the period. Finally, Wells Fargo & Company MN boosted its stake in Millicom International Cellular by 72.4% in the fourth 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.

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.