Millicom International Cellular (NASDAQ:TIGO) Shares Gap Up - Still a Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $24.61, but opened at $26.94. Millicom International Cellular shares last traded at $27.45, with a volume of 221,787 shares changing hands.

Analyst Ratings Changes

Separately, Scotiabank upgraded shares of Millicom International Cellular from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $30.00 to $37.30 in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.66.

Millicom International Cellular Stock Up 9.3 %

The company has a market cap of $2.74 billion, a P/E ratio of 28.63 and a beta of 1.17. The stock has a 50-day moving average of $25.34 and a two-hundred day moving average of $25.91. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.38). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The company's revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that Millicom International Cellular S.A. will post 1.98 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, January 3rd were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular's dividend payout ratio (DPR) is currently 106.38%.

Hedge Funds Weigh In On Millicom International Cellular

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in shares of Millicom International Cellular by 5.7% in the second quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company's stock worth $2,554,000 after purchasing an additional 5,624 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Millicom International Cellular by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company's stock worth $7,874,000 after acquiring an additional 83,939 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Millicom International Cellular by 11.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company's stock worth $477,000 after acquiring an additional 1,964 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Millicom International Cellular in the second quarter valued at about $884,000. Finally, AQR Capital Management LLC bought a new position in shares of Millicom International Cellular during the second quarter valued at about $215,000.

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.