Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High – Here’s Why

Millicom International Cellular SA (NASDAQ:TIGO)’s share price hit a new 52-week high on Wednesday . The company traded as high as $77.58 and last traded at $77.1550, with a volume of 574275 shares trading hands. The stock had previously closed at $74.94.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Morgan Stanley reiterated a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research report on Thursday, February 26th. Wall Street Zen downgraded Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.64.

Millicom International Cellular Stock Performance

The company has a market cap of $13.71 billion, a PE ratio of 10.15 and a beta of 0.87. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The firm’s 50 day moving average is $69.01 and its 200-day moving average is $57.27.

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

Millicom International Cellular Announces Dividend

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 paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.8%. Millicom International Cellular’s payout ratio is 38.22%.

Institutional Trading of Millicom International Cellular

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 314 shares during the period. Allworth Financial LP increased its position in Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after purchasing an additional 418 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular during the third quarter worth about $26,000. Altshuler Shaham Ltd acquired a new position in Millicom International Cellular in the 4th quarter valued at about $26,000. Finally, Blue Trust Inc. boosted its holdings in Millicom International Cellular by 736.2% in the 4th 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.

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.