Millicom International Cellular (NASDAQ:TIGO) Sets New 1-Year High – Here’s What Happened

Millicom International Cellular SA (NASDAQ:TIGO) hit a new 52-week high during trading on Wednesday . The company traded as high as $85.05 and last traded at $83.5890, with a volume of 370538 shares trading hands. The stock had previously closed at $83.51.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TIGO. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Morgan Stanley reissued a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Scotiabank raised their target price on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.64.

Millicom International Cellular Stock Performance

The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 10.68 and a beta of 0.87. The stock’s fifty day moving average is $73.80 and its two-hundred day moving average is $60.44.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Analysts forecast that Millicom International Cellular SA will post 3.23 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio is 38.22%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after purchasing an additional 14,990 shares in the last quarter. AQR Capital Management LLC raised its stake in Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Millicom International Cellular during the 1st quarter worth approximately $2,188,000. Goldman Sachs Group Inc. acquired a new position in shares of Millicom International Cellular in the 1st quarter worth approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $8,504,000.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg?headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high?speed internet access and pay?television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi?regional operator focused primarily on Central and South America.