Millicom International Cellular (NASDAQ:TIGO) Issues Quarterly Earnings Results, Misses Estimates By $0.58 EPS

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) announced its quarterly earnings results on Thursday. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.58), Zacks reports. 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 during the quarter, compared to analyst estimates of $1.47 billion.

Millicom International Cellular Stock Down 1.5 %

Shares of Millicom International Cellular stock traded down $0.39 on Monday, hitting $25.89. 1,084,519 shares of the company's stock traded hands, compared to its average volume of 404,775. 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 firm's 50-day moving average is $26.26 and its 200 day moving average is $26.40. The stock has a market cap of $4.46 billion, a P/E ratio of 27.54 and a beta of 1.18. Millicom International Cellular has a 52-week low of $17.62 and a 52-week high of $28.98.

Millicom International Cellular Announces Dividend

The firm also recently announced 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. 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 202.70%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TIGO. Morgan Stanley assumed coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 target price for the company. Scotiabank upped their price target on Millicom International Cellular from $37.30 to $37.90 and gave the stock a "sector outperform" rating in a report on Friday. Hsbc Global Res upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Finally, HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Millicom International Cellular has a consensus rating of "Buy" and a consensus price target of $33.98.

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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.