Millicom International Cellular (NASDAQ:TIGO) Hits New 52-Week High – Still a Buy?

Millicom International Cellular SA (NASDAQ:TIGO)’s share price hit a new 52-week high on Thursday . The stock traded as high as $62.67 and last traded at $61.6440, with a volume of 241982 shares trading hands. The stock had previously closed at $60.83.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Scotiabank lifted their target price 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. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. JPMorgan Chase & Co. upped their price target on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Finally, Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Moderate Buy” and an average price target of $53.95.

Millicom International Cellular Stock Down 1.9%

The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. The firm’s fifty day simple moving average is $54.78 and its 200 day simple moving average is $49.31. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94.

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

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in Millicom International Cellular by 48.1% in the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after buying an additional 14,990 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after acquiring an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Millicom International Cellular in the 1st quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. purchased a new stake in shares of Millicom International Cellular in the first quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Millicom International Cellular during the 1st quarter worth $8,504,000.

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.