Millicom International Cellular (NASDAQ:TIGO) Reaches New 52-Week High at $27.53

Millicom International Cellular S.A. (NASDAQ:TIGO)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $27.53 and last traded at $27.53, with a volume of 25690 shares changing hands. The stock had previously closed at $26.98.

Wall Street Analysts Forecast Growth

TIGO has been the subject of several recent analyst reports. HSBC cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $30.00 to $37.30 in a research report on Friday. JPMorgan Chase & Co. initiated coverage on Millicom International Cellular in a report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price objective on the stock. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. Finally, Hsbc Global Res lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.66.

Millicom International Cellular Price Performance

The company has a debt-to-equity ratio of 1.72, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 556.80 and a beta of 1.23. The stock has a 50-day moving average price of $25.80 and a 200 day moving average price of $23.30.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Friday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.05). The firm had revenue of $1.46 billion for the quarter. Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. During the same quarter last year, the business posted ($0.13) earnings per share. As a group, equities research analysts forecast that Millicom International Cellular S.A. will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the business. Silver Lake Advisory LLC acquired a new position in Millicom International Cellular in the second quarter valued at $260,000. Millennium Management LLC grew its holdings in shares of Millicom International Cellular by 138.9% during the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after buying an additional 157,205 shares during the last quarter. AQR Capital Management LLC acquired a new position in Millicom International Cellular in the 2nd quarter valued at about $215,000. Cubist Systematic Strategies LLC purchased a new stake in Millicom International Cellular during the 2nd quarter valued at approximately $884,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Millicom International Cellular by 11.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock worth $477,000 after acquiring an additional 1,964 shares during the period.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.