Millicom International Cellular (NASDAQ:TIGO) Reaches New 52-Week High - What's Next?

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $38.89 and last traded at $38.46, with a volume of 118946 shares traded. The stock had previously closed at $37.90.

Wall Street Analysts Forecast Growth

TIGO has been the subject of several analyst reports. UBS Group boosted their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Scotiabank lowered Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target for the company. in a research note on Tuesday, June 17th. Finally, Barclays cut their price target on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.08.

Millicom International Cellular Trading Up 1.2%

The company has a 50 day simple moving average of $36.15 and a 200 day simple moving average of $30.69. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76. The company has a market capitalization of $6.60 billion, a PE ratio of 18.45 and a beta of 1.06.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.23. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The business's revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. Millicom International Cellular's dividend payout ratio is presently 144.23%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC lifted its holdings in Millicom International Cellular by 34.3% in the first quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock valued at $373,000 after acquiring an additional 3,141 shares during the last quarter. KBC Group NV acquired a new position in Millicom International Cellular during the first quarter worth $233,000. Two Sigma Advisers LP acquired a new position in Millicom International Cellular during the fourth quarter worth $988,000. Vest Financial LLC acquired a new position in Millicom International Cellular during the first quarter worth $399,000. Finally, Brandes Investment Partners LP lifted its stake in Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock worth $114,402,000 after purchasing an additional 68,061 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.