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

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

Analyst Ratings Changes

A number of research analysts have recently commented on TIGO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. HSBC raised 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 research report on Friday, March 6th. Scotiabank boosted their target price on shares of Millicom International Cellular from $43.00 to $51.20 and gave the company a “sector underperform” rating in a report on Monday. Wall Street Zen downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research lowered shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Millicom International Cellular has a consensus rating of “Hold” and a consensus price target of $60.70.

Millicom International Cellular Price Performance

The company has a 50 day simple moving average of $68.28 and a 200 day simple moving average of $56.98. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 9.77 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81.

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

Millicom International Cellular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s payout ratio is 38.22%.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently made changes to their positions in the business. Corient Private Wealth LLC acquired a new position in shares of Millicom International Cellular during the 4th quarter valued at $225,000. Hsbc Holdings PLC increased its holdings in Millicom International Cellular by 455.9% in the 4th quarter. Hsbc Holdings PLC now owns 54,576 shares of the technology company’s stock valued at $3,038,000 after purchasing an additional 44,758 shares in the last quarter. Invesco Ltd. increased its holdings in Millicom International Cellular by 14.8% in the 4th quarter. Invesco Ltd. now owns 181,118 shares of the technology company’s stock valued at $10,041,000 after purchasing an additional 23,336 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Millicom International Cellular in the fourth quarter valued at about $265,000. Finally, Vident Advisory LLC lifted its stake in shares of Millicom International Cellular by 2.3% during the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after purchasing an additional 254 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.