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

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $75.47 and last traded at $75.0910, with a volume of 405273 shares trading hands. The stock had previously closed at $74.55.

Analysts Set New Price Targets

TIGO has been the topic of several recent analyst reports. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Friday, March 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Scotiabank cut Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $46.80 to $43.00 in a research note on Wednesday, February 11th. Finally, UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Millicom International Cellular has a consensus rating of “Hold” and an average price target of $59.33.

Millicom International Cellular Price Performance

The business has a 50 day simple moving average of $66.01 and a 200-day simple moving average of $55.82. 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 stock has a market cap of $12.91 billion, a P/E ratio of 9.55 and a beta of 0.90.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. On average, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current year.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of TIGO. Royal Bank of Canada grew its holdings in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after acquiring an additional 14,990 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after buying an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Millicom International Cellular during the 1st quarter valued at about $2,188,000. Goldman Sachs Group Inc. purchased a new stake in Millicom International Cellular during the first quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Millicom International Cellular during the first quarter valued at approximately $8,504,000.

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.