Millicom International Cellular (NASDAQ:TIGO) Sets New 1-Year High - Here's Why

Key Points

• New 52-week high: Shares of Millicom hit a one-year high of $81.40 (last $80.63) on heavy volume, trading well above its 50‑day ($69.76) and 200‑day ($57.86) moving averages.
• Strong quarterly beat: Millicom reported EPS of $1.50 vs. $1.05 expected and revenue of $1.65B (up 15.7% YoY), producing a 22.6% net margin and a 17.1% ROE.
• Dividend and mixed analyst views: The company declared a $0.75 quarterly dividend (annualized $3.00, yield 3.7%, DPR 38.2%); analysts are split (five Buys, two Sells) with a MarketBeat average target of $65.64.

Shares of Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $81.40 and last traded at $80.63, with a volume of 1055867 shares. The stock had previously closed at $79.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Zacks Research lowered Millicom International Cellular from a "hold" rating to a "strong sell" rating in a report on Friday, March 6th. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. Scotiabank increased their price target on Millicom International Cellular from $43.00 to $51.20 and gave the company a "sector underperform" rating in a research note on Monday, March 30th. Finally, UBS Group raised Millicom International Cellular from a "neutral" rating to a "buy" rating and increased their price target for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $65.64.

Millicom International Cellular Trading Up 1.2%

The business has a 50 day simple moving average of $69.76 and a 200-day simple moving average of $57.86. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $13.63 billion, a P/E ratio of 10.27 and a beta of 0.87.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. On average, analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.7%. Millicom International Cellular's dividend payout ratio (DPR) is currently 38.22%.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently modified their holdings of the stock. Corient Private Wealth LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $225,000. Hsbc Holdings PLC boosted its stake in shares of Millicom International Cellular by 455.9% during the 4th quarter. Hsbc Holdings PLC now owns 54,576 shares of the technology company's stock worth $3,038,000 after acquiring an additional 44,758 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Millicom International Cellular by 14.8% during the 4th quarter. Invesco Ltd. now owns 181,118 shares of the technology company's stock worth $10,041,000 after acquiring an additional 23,336 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $265,000. Finally, Vident Advisory LLC boosted its stake in shares of Millicom International Cellular by 2.3% during the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company's stock worth $635,000 after acquiring an additional 254 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.