Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High – Still a Buy?

Millicom International Cellular SA (NASDAQ:TIGO)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $94.73 and last traded at $89.45, with a volume of 1945542 shares changing hands. The stock had previously closed at $93.77.

Analysts Set New Price Targets

TIGO has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Scotiabank boosted their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. Morgan Stanley restated a “positive” rating and issued a $55.00 target price on shares of Millicom International Cellular in a report on Thursday, February 26th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Friday, March 6th. Finally, UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Trading Down 4.6%

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The firm’s 50 day simple moving average is $83.63 and its 200-day simple moving average is $69.69. The company has a market capitalization of $15.12 billion, a PE ratio of 12.15 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, equities research analysts anticipate that Millicom International Cellular SA will post 1.78 EPS for the current year.

Millicom International Cellular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders 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 yield of 3.4%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s payout ratio is currently 40.76%.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the sale, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Millicom International Cellular by 48.1% during the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after purchasing an additional 14,990 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 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 worth $290,000 after purchasing an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Millicom International Cellular during the first quarter worth $2,188,000. Goldman Sachs Group Inc. acquired a new position in shares of Millicom International Cellular during the first quarter worth $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Millicom International Cellular during the first quarter worth $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.