Millicom International Cellular (NASDAQ:TIGO) Trading Up 3.6% – What’s Next?

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) were up 3.6% on Tuesday . The company traded as high as $31.23 and last traded at $31.32. Approximately 480,063 shares changed hands during mid-day trading, an increase of 138% from the average daily volume of 201,795 shares. The stock had previously closed at $30.24.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TIGO. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price for the company. 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 report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective 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. Scotiabank lifted their target price 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 Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment 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 company. According to data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Buy” and a consensus target price of $33.98.

Millicom International Cellular Trading Up 3.3 %

The company has a 50 day moving average of $27.08 and a two-hundred day moving average of $26.59. The stock has a market capitalization of $5.37 billion, a PE ratio of 33.25 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s payout ratio is 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds have recently modified their holdings of TIGO. Perpetual Ltd purchased a new stake in Millicom International Cellular during the 4th quarter worth approximately $1,587,000. Assetmark Inc. grew its holdings in shares of Millicom International Cellular by 4,044.9% during the fourth quarter. Assetmark Inc. now owns 27,481 shares of the technology company’s stock valued at $687,000 after buying an additional 26,818 shares during the last quarter. Blue Trust Inc. increased its position 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 during the period. Brandes Investment Partners LP raised its stake in Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after acquiring an additional 68,061 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after acquiring an additional 750 shares during 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.