Millicom International Cellular (NASDAQ:TIGO) Hits New 52-Week High – Here’s What Happened

Millicom International Cellular SA (NASDAQ:TIGO)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $56.73 and last traded at $56.8460, with a volume of 145750 shares trading hands. The stock had previously closed at $55.44.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Scotiabank boosted 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 cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and lifted their price target for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Two investment 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. According to MarketBeat.com, Millicom International Cellular currently has an average rating of “Moderate Buy” and a consensus price target of $43.47.

Millicom International Cellular Price Performance

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 stock has a market capitalization of $9.66 billion, a PE ratio of 8.71 and a beta of 0.93. The company’s 50 day simple moving average is $51.61 and its 200 day simple moving average is $46.43.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, November 6th. The technology company reported $0.34 EPS 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 analysts’ expectations of $1.40 billion. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. Millicom International Cellular’s revenue was down .8% on a year-over-year basis. On average, equities analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in 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 during the last quarter. Swedbank AB acquired a new position in shares of Millicom International Cellular in the first quarter worth about $85,909,000. Perpetual Ltd lifted its position in shares of Millicom International Cellular by 5,283.2% in the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock valued at $132,610,000 after acquiring an additional 2,681,221 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Millicom International Cellular in the 1st quarter worth approximately $50,664,000. Finally, Park West Asset Management LLC grew its position in Millicom International Cellular by 513.0% during the 1st quarter. Park West Asset Management LLC now owns 1,510,977 shares of the technology company’s stock worth $45,737,000 after purchasing an additional 1,264,480 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.