Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) declared an annual dividend on Monday, March 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, April 8th will be paid a dividend of 0.75 per share by the technology company on Tuesday, April 15th. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 8th.
Millicom International Cellular has a dividend payout ratio of 84.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Millicom International Cellular to earn $2.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 105.6%.
Millicom International Cellular Price Performance
Shares of NASDAQ TIGO traded up $1.18 during midday trading on Thursday, hitting $28.21. 1,029,758 shares of the company's stock were exchanged, compared to its average volume of 442,650. Millicom International Cellular has a 12-month low of $18.09 and a 12-month high of $28.98. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 30.01 and a beta of 1.18. The business's fifty day moving average price is $26.43 and its two-hundred day moving average price is $26.42.
Analyst Ratings Changes
Several analysts have issued reports on TIGO shares. Hsbc Global Res raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. HSBC raised Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 target price for the company in a research note on Wednesday, January 22nd. Morgan Stanley started coverage on 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. Scotiabank upped their target price 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. Finally, JPMorgan Chase & Co. cut their target price on Millicom International Cellular from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $33.98.
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About Millicom International Cellular
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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.
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