Millicom International Cellular (NASDAQ:TIGO) Hits New 1-Year High – Time to Buy?

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high during trading on Wednesday . The company traded as high as $37.05 and last traded at $36.74, with a volume of 463823 shares. The stock had previously closed at $36.85.

Analyst Upgrades and Downgrades

TIGO has been the topic of several research reports. Morgan Stanley assumed coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price on the stock. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, January 22nd. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group boosted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, Barclays dropped their target price on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.73.

Millicom International Cellular Price Performance

The company has a market cap of $6.32 billion, a PE ratio of 39.09 and a beta of 1.03. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The company has a 50-day moving average price of $31.64 and a two-hundred day moving average price of $28.12.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.23. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the business earned $0.54 EPS. Millicom International Cellular’s quarterly revenue was down 7.6% compared to the same quarter last year. Sell-side analysts expect that Millicom International Cellular S.A. will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 144.23%.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Millicom International Cellular in the 4th quarter valued at about $49,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Millicom International Cellular in the first quarter worth about $84,000. Blue Trust Inc. lifted its stake in shares of Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,544 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,055 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in Millicom International Cellular by 22.2% during the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after purchasing an additional 1,277 shares in the last quarter.

Millicom International Cellular Company Profile

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.