Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High - Time to Buy?

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a "sector outperform" rating in a research report on Friday, February 28th. 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. UBS Group upped their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, Barclays lowered their price target on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.23.

Millicom International Cellular Trading Down 0.2%

The firm's 50 day simple moving average is $33.06 and its two-hundred day simple moving average is $28.87. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $6.29 billion, a P/E ratio of 38.90 and a beta of 1.03.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the firm earned $0.54 EPS. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, analysts forecast that Millicom International Cellular S.A. will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The firm 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. 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 (DPR) is presently 144.23%.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds have recently made changes to their positions in TIGO. Dodge & Cox bought a new position in Millicom International Cellular during the first quarter valued at about $263,401,000. Price T Rowe Associates Inc. MD increased its position in Millicom International Cellular by 5,033.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock worth $168,874,000 after buying an additional 5,470,214 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Millicom International Cellular by 1.5% in the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock valued at $114,402,000 after buying an additional 68,061 shares during the period. Boston Partners purchased a new stake in Millicom International Cellular in the 1st quarter worth about $73,286,000. Finally, Southeastern Asset Management Inc. TN bought a new stake in Millicom International Cellular during the 4th quarter valued at $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.