Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High After Dividend Announcement

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $31.63 and last traded at $31.22, with a volume of 912344 shares. The stock had previously closed at $31.13.

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

Wall Street Analysts Forecast Growth

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

Millicom International Cellular Price Performance

The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 31.85 and a beta of 1.23. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The stock has a 50-day simple moving average of $27.58 and a 200 day simple moving average of $26.72.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors have recently bought and sold shares of TIGO. State of Wyoming acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at about $49,000. National Bank of Canada FI acquired a new stake in shares of Millicom International Cellular during the 3rd quarter valued at about $76,000. Point72 Asset Management L.P. acquired a new stake in shares of Millicom International Cellular during the 3rd quarter valued at about $87,000. Blue Trust Inc. raised its stake in shares of Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,544 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after acquiring an additional 2,055 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.