Millicom International Cellular (NASDAQ:TIGO) Hits New 1-Year High - What's Next?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $38.51 and last traded at $37.07, with a volume of 1243 shares trading hands. The stock had previously closed at $37.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TIGO shares. Wall Street Zen lowered shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Scotiabank boosted their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research report on Friday, February 28th. UBS Group boosted their price target on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Barclays dropped their target price on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Millicom International Cellular presently has an average rating of "Moderate Buy" and an average price target of $38.23.

Millicom International Cellular Stock Performance

The company has a market capitalization of $6.28 billion, a P/E ratio of 38.85 and a beta of 1.08. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The stock's 50 day simple moving average is $33.19 and its two-hundred day simple moving average is $28.95.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. Millicom International Cellular's revenue for the quarter was down 7.6% compared to the same quarter last year. 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 firm also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio is currently 144.23%.

Hedge Funds Weigh In On Millicom International Cellular

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock valued at $290,000 after buying an additional 453 shares during the period. Cerity Partners LLC lifted its holdings in Millicom International Cellular by 4.7% in the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock valued at $339,000 after buying an additional 508 shares during the period. Jones Financial Companies Lllp lifted its holdings in Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock valued at $227,000 after buying an additional 545 shares during the period. Principal Securities Inc. lifted its holdings in Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock valued at $176,000 after buying an additional 1,277 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Millicom International Cellular by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock valued at $3,868,000 after buying an additional 1,500 shares during the period.

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.