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

Millicom International Cellular SA (NASDAQ:TIGO)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $87.05 and last traded at $83.01, with a volume of 2185942 shares traded. The stock had previously closed at $85.84.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TIGO shares. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Tuesday. Finally, Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus price target of $77.04.

Millicom International Cellular Trading Down 3.3%

The company has a market cap of $14.03 billion, a price-to-earnings ratio of 11.28 and a beta of 0.93. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The firm’s fifty day moving average price is $80.12 and its 200-day moving average price is $66.18.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data 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 net margin of 19.16% and a return on equity of 16.38%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. On average, equities analysts expect that Millicom International Cellular SA will post 3.27 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s payout ratio is currently 40.76%.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently modified their holdings of TIGO. JPMorgan Chase & Co. raised its stake in shares of Millicom International Cellular by 348.9% during the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after purchasing an additional 5,020,602 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular during the first quarter valued at about $50,664,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Millicom International Cellular by 46,519.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock valued at $70,042,000 after purchasing an additional 1,260,666 shares in the last quarter. Tredje AP fonden bought a new stake in shares of Millicom International Cellular during the fourth quarter valued at about $60,459,000. Finally, State Street Corp raised its stake in shares of Millicom International Cellular by 129.2% during the second quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock valued at $68,198,000 after purchasing an additional 1,026,063 shares in the last quarter.

About Millicom International Cellular

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.