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

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $85.11 and last traded at $84.8620, with a volume of 569898 shares. The stock had previously closed at $82.22.

Wall Street Analyst Weigh In

TIGO has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Friday, March 6th. Finally, UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.64.

Millicom International Cellular Stock Performance

The firm has a market capitalization of $14.34 billion, a P/E ratio of 10.81 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average of $75.92 and a 200-day moving average of $61.83.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.Millicom International Cellular’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. On average, equities analysts anticipate that Millicom International Cellular SA will post 3.23 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is currently 38.22%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TIGO. Nisa Investment Advisors LLC acquired a new stake in Millicom International Cellular during the 3rd quarter worth about $4,010,000. State of Alaska Department of Revenue acquired a new stake in Millicom International Cellular during the 3rd quarter worth about $970,000. Plato Investment Management Ltd acquired a new stake in Millicom International Cellular during the 3rd quarter worth about $875,000. JPMorgan Chase & Co. grew its holdings in Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after acquiring an additional 5,020,602 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in Millicom International Cellular by 15.0% during the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company’s stock worth $6,230,000 after acquiring an additional 16,695 shares during the period.

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.