Millicom International Cellular SA (TIGO) To Go Ex-Dividend on January 8th

Millicom International Cellular SA (NASDAQ:TIGO) announced a quarterly dividend on Wednesday, May 21st. Shareholders of record on Thursday, January 8th will be paid a dividend of 0.75 per share by the technology company on Thursday, January 15th. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Thursday, January 8th.

Millicom International Cellular has decreased its dividend by an average of 1.0%per year over the last three years. Millicom International Cellular has a payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Millicom International Cellular stock opened at $57.22 on Tuesday. The firm has a market capitalization of $9.85 billion, a PE ratio of 8.76 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. Millicom International Cellular has a 12 month low of $23.61 and a 12 month high of $57.28. The business’s 50-day moving average price is $51.95 and its 200-day moving average price is $46.83.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.21). The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The firm’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

TIGO has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Scotiabank upped their price target on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research report on Friday, November 7th. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. Finally, Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

Millicom International Cellular Company Profile

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.