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

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, Scotiabank boosted their price target on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company 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 fifty day simple moving average of $80.12 and a 200-day simple moving average of $66.18. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The stock has a market cap of $14.03 billion, a price-to-earnings ratio of 11.28 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. On average, research analysts forecast that Millicom International Cellular SA will post 3.27 earnings per share 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. Shareholders of record on Thursday, April 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s payout ratio is presently 40.76%.

Institutional Trading of Millicom International Cellular

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Millicom International Cellular by 3.9% during the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock worth $372,202,000 after buying an additional 253,891 shares during the period. Barclays PLC raised its holdings in Millicom International Cellular by 1.7% during the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after buying an additional 47,194 shares during the period. State Street Corp grew its stake in Millicom International Cellular by 14.9% during the 4th quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock valued at $126,364,000 after acquiring an additional 296,319 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular during the 1st quarter valued at about $50,664,000. Finally, Boston Partners grew its stake in Millicom International Cellular by 2.7% during the 4th quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock valued at $88,911,000 after acquiring an additional 41,765 shares in 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.