Millicom International Cellular (NASDAQ:TIGO) Sets New 12-Month High – Here’s What Happened

Millicom International Cellular SA (NASDAQ:TIGO) hit a new 52-week high during trading on Wednesday . The company traded as high as $85.05 and last traded at $83.5890, with a volume of 370538 shares trading hands. The stock had previously closed at $83.51.

Analysts Set New Price Targets

Several equities analysts recently commented on TIGO shares. Scotiabank increased their target price on shares of Millicom International Cellular from $43.00 to $51.20 and gave the company a “sector underperform” rating in a report on Monday, March 30th. HSBC raised 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. Wall Street Zen lowered Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Morgan Stanley reaffirmed a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Finally, Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.64.

Millicom International Cellular Stock Up 1.3%

The company has a 50-day moving average of $74.54 and a two-hundred day moving average of $60.77. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $14.23 billion, a P/E ratio of 10.73 and a beta of 0.87.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, research analysts predict that Millicom International Cellular SA will post 3.23 EPS for the current year.

Millicom International Cellular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s payout ratio is currently 38.22%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TIGO. Smartleaf Asset Management LLC grew its position in Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after purchasing an additional 314 shares during the last quarter. Allworth Financial LP raised its position in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after buying an additional 418 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Millicom International Cellular during the 3rd quarter valued at about $26,000. Altshuler Shaham Ltd bought a new stake in shares of Millicom International Cellular in the fourth quarter worth approximately $26,000. Finally, Blue Trust Inc. raised its holdings 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 valued at $27,000 after purchasing 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.