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

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $41.01 and last traded at $40.95, with a volume of 530702 shares. The stock had previously closed at $39.95.

Analyst Ratings Changes

A number of analysts recently issued reports on TIGO shares. JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Barclays decreased their price objective 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. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Scotiabank lowered Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price objective on the stock. in a research report on Tuesday, June 17th. Finally, UBS Group lifted their price target 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. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Millicom International Cellular currently has a consensus rating of "Moderate Buy" and an average price target of $38.08.

Millicom International Cellular Stock Performance

The company has a market capitalization of $7.02 billion, a P/E ratio of 19.62 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65. The business has a 50 day moving average of $37.04 and a 200 day moving average of $31.66.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $0.54 EPS. Millicom International Cellular's revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, July 8th. This represents a $3.00 annualized dividend and a yield of 7.35%. Millicom International Cellular's payout ratio is presently 144.23%.

Institutional Trading of Millicom International Cellular

A number of hedge funds have recently modified their holdings of TIGO. Dodge & Cox acquired a new position in shares of Millicom International Cellular during the first quarter valued at approximately $263,401,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Millicom International Cellular by 5,033.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock valued at $168,874,000 after acquiring an additional 5,470,214 shares during the last quarter. Swedbank AB acquired a new stake in shares of Millicom International Cellular in the first quarter valued at approximately $85,909,000. Boston Partners acquired a new stake in shares of Millicom International Cellular in the first quarter valued at approximately $73,286,000. Finally, Southeastern Asset Management Inc. TN acquired a new stake in shares of Millicom International Cellular in the fourth quarter valued at approximately $60,306,000.

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.

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