Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.16 and last traded at $39.01, with a volume of 2250757 shares changing hands. The stock had previously closed at $37.89.
Wall Street Analysts Forecast Growth
TIGO has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. UBS Group lifted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Scotiabank lowered Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target on the stock. in a report on Tuesday, June 17th. Barclays dropped their price target on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Finally, Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.08.
Check Out Our Latest Report on Millicom International Cellular
Millicom International Cellular Trading Down 1.1%
The firm has a 50-day moving average of $36.52 and a 200-day moving average of $31.16. 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 firm has a market capitalization of $6.64 billion, a P/E ratio of 18.56 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, topping the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $0.54 EPS. Millicom International Cellular's revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.
Millicom International Cellular Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.77%. The ex-dividend date of this dividend is Tuesday, July 8th. Millicom International Cellular's payout ratio is presently 144.23%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Counterpoint Mutual Funds LLC purchased a new position in Millicom International Cellular during the second quarter valued at $1,962,000. Bond & Devick Financial Network Inc. bought a new stake in shares of Millicom International Cellular in the 2nd quarter worth $225,000. Swedbank AB bought a new stake in shares of Millicom International Cellular in the 1st quarter worth $85,909,000. Militia Capital Partners LP bought a new stake in shares of Millicom International Cellular in the 1st quarter worth $908,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Millicom International Cellular in the 1st quarter worth $819,000.
About Millicom International Cellular
(
Get Free Report)
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.
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