Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High - Here's Why

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) hit 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 traded. The stock had previously closed at $33.95.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TIGO shares. Barclays cut their price target on 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. Scotiabank boosted their price target 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. Hsbc Global Res upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Morgan Stanley assumed coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 target price on the stock. Finally, HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.65.

Millicom International Cellular Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $5.75 billion, a PE ratio of 35.59 and a beta of 1.03. The business's 50 day moving average is $29.93 and its 200 day moving average is $27.51.

Millicom International Cellular Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular's dividend payout ratio is 202.70%.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently modified their holdings of the business. Southeastern Asset Management Inc. TN purchased a new stake in Millicom International Cellular in the fourth quarter worth $60,306,000. Victory Capital Management Inc. purchased a new position in Millicom International Cellular in the 1st quarter worth about $22,999,000. Park West Asset Management LLC bought a new stake in Millicom International Cellular during the 4th quarter valued at about $6,165,000. Segall Bryant & Hamill LLC purchased a new stake in Millicom International Cellular in the 1st quarter valued at about $2,945,000. Finally, Brandes Investment Partners LP boosted its position in Millicom International Cellular by 1.5% in the 4th 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.

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.