Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High on Analyst Upgrade

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) hit a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $41.00 to $50.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Millicom International Cellular traded as high as $38.50 and last traded at $36.24, with a volume of 1113306 shares traded. The stock had previously closed at $36.89.

A number of other research firms have also recently weighed in on TIGO. UBS Group upped their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. 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. Morgan Stanley initiated coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 target price for the company. Finally, Scotiabank boosted their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.23.

Institutional Trading of Millicom International Cellular

Several institutional investors have recently bought and sold shares of TIGO. Blue Trust Inc. increased its holdings in Millicom International Cellular by 69.5% during the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after purchasing an additional 1,544 shares in the last quarter. LB Partners LLC increased its position in Millicom International Cellular by 1.4% in the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company's stock valued at $12,978,000 after acquiring an additional 7,000 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after acquiring an additional 1,277 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of 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 worth $227,000 after acquiring an additional 545 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Millicom International Cellular by 47.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company's stock worth $3,993,000 after purchasing an additional 51,620 shares in the last quarter.

Millicom International Cellular Price Performance

The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 39.79 and a beta of 1.03. 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's 50-day moving average price is $32.65 and its 200-day moving average price is $28.68.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its 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. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. Equities research analysts anticipate that Millicom International Cellular S.A. will post 1.91 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

The business also recently declared an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were given a $0.75 dividend. The ex-dividend date was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular's dividend payout ratio is currently 144.23%.

About Millicom International Cellular

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.