Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High on Analyst Upgrade

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report)'s stock price reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $36.89.

A number of other brokerages have also issued reports on TIGO. Barclays reduced their price target on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley started coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price target for the company. Scotiabank boosted their price target on 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. Finally, UBS Group boosted their price target 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.23.

Institutional Trading of Millicom International Cellular

Several institutional investors have recently modified their holdings of the company. Dodge & Cox acquired a new stake in shares of Millicom International Cellular in the first quarter valued at $263,401,000. Price T Rowe Associates Inc. MD raised its position in shares of Millicom International Cellular by 5,033.3% during 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 purchasing an additional 5,470,214 shares during the period. Brandes Investment Partners LP raised its position in shares of Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock worth $114,402,000 after purchasing an additional 68,061 shares during the period. Boston Partners acquired a new stake in shares of Millicom International Cellular during the first quarter worth $73,286,000. Finally, Southeastern Asset Management Inc. TN acquired a new stake in shares of Millicom International Cellular during the fourth quarter worth $60,306,000.

Millicom International Cellular Stock Up 1.5%

The business has a 50-day moving average price of $32.50 and a 200-day moving average price of $28.58. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 39.82 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.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.45 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. Millicom International Cellular's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 earnings per share. As a group, equities analysts anticipate that Millicom International Cellular S.A. will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

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

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.