Millicom International Cellular (NASDAQ:TIGO) Hits New 52-Week High - Should You Buy?

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $37.05 and last traded at $36.74, with a volume of 463823 shares trading hands. The stock had previously closed at $36.85.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TIGO. Barclays cut their price objective on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley started coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 price objective for the company. Scotiabank raised their target price on Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $33.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. Finally, UBS Group upped their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Millicom International Cellular presently has an average rating of "Moderate Buy" and a consensus target price of $36.73.

Millicom International Cellular Stock Up 0.2%

The company's 50-day simple moving average is $32.01 and its two-hundred day simple moving average is $28.34. The firm has a market capitalization of $6.35 billion, a P/E ratio of 39.25 and a beta of 1.03. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The business's revenue was down 7.6% on a year-over-year basis. As a group, research analysts expect that Millicom International Cellular S.A. will post 1.91 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were paid a $0.75 dividend. This represents a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, April 8th. Millicom International Cellular's payout ratio is currently 144.23%.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently added to or reduced their stakes in TIGO. State of Wyoming purchased a new stake in shares of Millicom International Cellular in the 4th quarter worth $49,000. Caitong International Asset Management Co. Ltd bought a new position in Millicom International Cellular in the first quarter worth approximately $84,000. Blue Trust Inc. raised 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 worth $102,000 after acquiring an additional 1,544 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Millicom International Cellular by 72.4% in 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock valued at $190,000 after acquiring an additional 2,489 shares during the last quarter.

About Millicom International Cellular

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.