Millicom International Cellular (NASDAQ:TIGO) Hits New 1-Year High – Here’s Why

Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high during trading on Friday . The company traded as high as $29.20 and last traded at $28.93, with a volume of 365178 shares traded. The stock had previously closed at $28.21.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price on the stock. Scotiabank boosted their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a report on Friday, February 28th. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $33.98.

Millicom International Cellular Stock Performance

The firm’s 50-day moving average price is $26.51 and its two-hundred day moving average price is $26.45. The firm has a market capitalization of $4.91 billion, a PE ratio of 30.35 and a beta of 1.23. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59.

Millicom International Cellular Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be given a dividend of $0.75 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 8th. Millicom International Cellular’s payout ratio is presently 202.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TIGO. Southeastern Asset Management Inc. TN bought a new stake in Millicom International Cellular in the fourth quarter worth approximately $60,306,000. Park West Asset Management LLC bought a new stake in Millicom International Cellular in the fourth quarter worth approximately $6,165,000. Brandes Investment Partners LP grew its position in Millicom International Cellular by 1.5% in the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after acquiring an additional 68,061 shares in the last quarter. Perpetual Ltd bought a new stake in Millicom International Cellular in the fourth quarter worth approximately $1,587,000. Finally, Squarepoint Ops LLC bought a new stake in Millicom International Cellular in the fourth quarter worth approximately $1,319,000.

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.