Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High - Time to Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.25 and last traded at $34.02, with a volume of 990525 shares trading hands. The stock had previously closed at $33.95.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TIGO shares. HSBC upgraded shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price objective for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Barclays dropped their target price 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 began coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 target price on the stock. Finally, Hsbc Global Res raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. 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. According to MarketBeat, Millicom International Cellular presently has an average rating of "Moderate Buy" and an average price target of $35.65.

Millicom International Cellular Price Performance

The stock has a fifty day moving average of $29.53 and a two-hundred day moving average of $27.36. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 36.19 and a beta of 0.90. 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 Dividend Announcement

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 dividend of $0.75 per share. This represents a yield of 3.9%. The ex-dividend date was Tuesday, April 8th. Millicom International Cellular's dividend payout ratio is presently 202.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp grew 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 purchasing an additional 545 shares during the last quarter. Principal Securities Inc. lifted its position 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 valued at $176,000 after acquiring an additional 1,277 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 1,500 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after acquiring an additional 1,544 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Millicom International Cellular in the fourth quarter valued at $49,000.

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.

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