Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High - Here's What Happened

Key Points

• 52-week high: Millicom (NASDAQ:TIGO) traded as high as $85.11 (last $84.86) on Thursday with about 569,898 shares changing hands, marking a new 12‑month peak.
• Earnings beat and dividend: The company reported $1.50 EPS for the quarter versus a $1.05 estimate and $1.65B revenue (up 15.7% YoY), and announced a $0.75 quarterly dividend ($3.00 annualized, ~3.5% yield).
• Analyst backdrop: Coverage is mixed but tilted positive—five Buys, one Hold, one Sell—yielding a MarketBeat consensus of "Moderate Buy" with a $65.64 target, while HSBC upgraded to Buy with an $89 target.

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $85.11 and last traded at $84.8620, with a volume of 569898 shares trading hands. The stock had previously closed at $82.22.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TIGO shares. HSBC raised 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 research report on Friday, March 6th. Scotiabank raised their target price on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a "sector underperform" rating in a report on Monday, March 30th. Morgan Stanley reiterated a "positive" rating and issued a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Weiss Ratings restated a "buy (b)" rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.64.

Millicom International Cellular Stock Performance

The stock has a 50 day simple moving average of $75.92 and a 200 day simple moving average of $61.83. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. The stock has a market cap of $14.34 billion, a P/E ratio of 10.81 and a beta of 0.87.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the prior year, the company earned $0.18 earnings per share. The company's quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts expect that Millicom International Cellular SA will post 3.23 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a yield of 3.5%. Millicom International Cellular's dividend payout ratio is presently 38.22%.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company's stock worth $25,000 after purchasing an additional 418 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Millicom International Cellular during the fourth quarter worth $26,000. Blue Trust Inc. lifted its stake in Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock worth $25,000 after buying an additional 314 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Millicom International Cellular during the fourth quarter worth $29,000.

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.

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