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

Key Points

• Millicom International Cellular stock reached a new 52-week high of $49.03 during trading, closing at $49.10 with a volume of 386,765 shares.
• Analysts have upgraded the stock's ratings, with Zacks Research moving from "hold" to "strong-buy," and JPMorgan increasing its target price from $50.00 to $55.00.
• The company announced a special dividend of $1.25 per share, set to be paid on October 15, representing a yield of 620.0%.

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $49.03 and last traded at $49.10, with a volume of 386765 shares changing hands. The stock had previously closed at $48.31.

Analyst Upgrades and Downgrades

Several research firms have commented on TIGO. Zacks Research upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Scotiabank upped their price objective on Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 25th. JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, UBS Group upped their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $40.43.

Millicom International Cellular Stock Down 1.6%

The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 8.32 and a beta of 1.09. The firm has a 50-day moving average price of $42.30 and a two-hundred day moving average price of $35.90. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. On average, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be given a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a dividend yield of 620.0%. Millicom International Cellular's dividend payout ratio is presently 52.91%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC raised its position in shares of Millicom International Cellular by 0.3% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company's stock worth $3,656,000 after purchasing an additional 300 shares during the period. AQR Capital Management LLC raised its position in shares of Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock worth $290,000 after purchasing an additional 453 shares during the period. EverSource Wealth Advisors LLC increased its position in Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company's stock valued at $53,000 after acquiring an additional 502 shares during the period. Cerity Partners LLC boosted its stake in shares of Millicom International Cellular by 4.7% during the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock worth $339,000 after acquiring an additional 508 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC boosted its stake in shares of Millicom International Cellular by 1.0% during the 2nd quarter. BTG Pactual Asset Management US LLC now owns 63,416 shares of the technology company's stock worth $2,376,000 after acquiring an additional 609 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.