Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High – What’s Next?

Millicom International Cellular S.A. (NASDAQ:TIGO)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $28.87 and last traded at $28.47, with a volume of 227168 shares changing hands. The stock had previously closed at $27.86.

Analyst Upgrades and Downgrades

TIGO has been the subject of a number of research analyst reports. Scotiabank lifted their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a report on Friday. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Morgan Stanley initiated coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price target for the company. Finally, HSBC raised 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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 $4.52 billion, a P/E ratio of 27.96 and a beta of 1.18. 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 company has a fifty day simple moving average of $26.23 and a two-hundred day simple moving average of $26.39.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were issued a dividend of $1.00 per share. The ex-dividend date was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio is currently 106.38%.

Institutional Trading of Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIGO. State of Wyoming acquired a new position in shares of Millicom International Cellular during the 4th quarter worth about $49,000. Blue Trust Inc. grew its position in shares of Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after buying an additional 1,367 shares during the period. National Bank of Canada FI acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth about $76,000. Point72 Asset Management L.P. acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth about $87,000. Finally, Wells Fargo & Company MN grew its position in shares of Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock worth $122,000 after buying an additional 2,055 shares during the period.

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.