Millicom International Cellular (NASDAQ:TIGO) Sets New 1-Year High – What’s Next?

Millicom International Cellular SA (NASDAQ:TIGO) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $75.47 and last traded at $75.0910, with a volume of 405273 shares trading hands. The stock had previously closed at $74.55.

Analysts Set New Price Targets

TIGO has been the subject of several analyst reports. Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Friday, March 6th. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Scotiabank lowered shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the company from $46.80 to $43.00 in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Millicom International Cellular presently has a consensus rating of “Hold” and an average target price of $59.33.

Millicom International Cellular Stock Down 2.1%

The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $56.16. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 9.59 and a beta of 0.90.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. On average, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its position in shares of Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after acquiring an additional 314 shares during the period. Allworth Financial LP grew its position in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Millicom International Cellular in the third quarter valued at about $26,000. Altshuler Shaham Ltd bought a new position in shares of Millicom International Cellular during the fourth quarter worth about $26,000. Finally, Blue Trust Inc. raised its position in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares during the last quarter.

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.