Millicom International Cellular (NASDAQ:TIGO) Reaches New 1-Year High After Dividend Announcement

Millicom International Cellular S.A. (NASDAQ:TIGO)’s share price reached a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $30.37 and last traded at $30.30, with a volume of 350235 shares changing hands. The stock had previously closed at $29.51.

The newly announced dividend which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be issued a $0.75 dividend. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 8th. Millicom International Cellular’s dividend payout ratio is presently 202.70%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TIGO. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Scotiabank raised their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. HSBC upgraded 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, Morgan Stanley initiated coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price target for the company. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $33.98.

Millicom International Cellular Price Performance

The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average is $26.98 and its two-hundred day moving average is $26.56. The firm has a market cap of $5.23 billion, a P/E ratio of 32.32 and a beta of 1.23.

Institutional Trading of Millicom International Cellular

Large investors have recently modified their holdings of the stock. Vident Advisory LLC lifted its position in shares of Millicom International Cellular by 24.7% during the 4th quarter. Vident Advisory LLC now owns 10,440 shares of the technology company’s stock valued at $261,000 after acquiring an additional 2,071 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Millicom International Cellular during the fourth quarter valued at about $1,319,000. Two Sigma Advisers LP bought a new position in shares of Millicom International Cellular during the 4th quarter worth about $988,000. Two Sigma Investments LP grew its stake in shares of Millicom International Cellular by 229.3% in the 4th quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company’s stock valued at $1,428,000 after buying an additional 39,771 shares during the period. Finally, State of Wyoming bought a new stake in Millicom International Cellular in the 4th quarter valued at about $49,000.

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.