Key Points
- Insider sale: Salvador Escalon sold 49,288 shares of Millicom International Cellular (NASDAQ:TIGO) at an average price of $88.51, totaling about $4.36 million. After the transaction, his ownership fell by 22.96% to 165,344 shares.
- Recent performance and earnings: TIGO opened at $86.07 and is trading near its 52-week high of $89.49. The company recently reported quarterly EPS of $0.97, topping estimates of $0.89, while revenue matched expectations at $1.99 billion.
- Dividend and analyst view: Millicom declared a quarterly dividend of $0.75 per share, or $3.00 annually, for a 3.5% yield. Analysts currently have a consensus rating of Moderate Buy with an average price target of $77.28.
Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the sale, the insider owned 165,344 shares in the company, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Millicom International Cellular Price Performance
Shares of NASDAQ TIGO opened at $86.07 on Thursday. Millicom International Cellular SA has a twelve month low of $35.62 and a twelve month high of $89.49. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $14.55 billion, a price-to-earnings ratio of 11.69 and a beta of 0.91. The business has a 50 day simple moving average of $81.62 and a 200-day simple moving average of $67.72.
Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, equities research analysts expect that Millicom International Cellular SA will post 2.34 earnings per share for the current year.
Millicom International Cellular Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular's payout ratio is 40.76%.
Institutional Trading of Millicom International Cellular
Institutional investors have recently modified their holdings of the company. Plato Investment Management Ltd acquired a new position in Millicom International Cellular during the third quarter valued at $875,000. JPMorgan Chase & Co. increased its position in Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company's stock worth $313,555,000 after purchasing an additional 5,020,602 shares during the last quarter. William Blair Investment Management LLC increased its position in Millicom International Cellular by 15.0% in the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company's stock worth $6,230,000 after purchasing an additional 16,695 shares during the last quarter. Assetmark Inc. increased its position in Millicom International Cellular by 31.1% in the 4th quarter. Assetmark Inc. now owns 85,059 shares of the technology company's stock worth $4,716,000 after purchasing an additional 20,194 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in Millicom International Cellular by 4.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company's stock worth $22,951,000 after purchasing an additional 16,126 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on TIGO. Weiss Ratings upgraded Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Scotiabank boosted their price target on Millicom International Cellular from $51.20 to $52.40 and gave the company a "sector underperform" rating in a report on Wednesday, May 27th. Morgan Stanley reiterated a "positive" rating and issued a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. Finally, HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price target for the company in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.28.
Read Our Latest Stock Report on TIGO
About Millicom International Cellular
(
Get Free Report)
Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.
Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.
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