Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High - What's Next?

Key Points

• Millicom International Cellular's shares reached a new 52-week high of $43.08, with the last trade at $42.76, following a notable trading volume of 299,035 shares.
• Analyst ratings are mixed, with Scotiabank downgrading the stock to a "sector perform" rating while JPMorgan Chase raised its target price to $50.00 and gave an "overweight" rating.
• The company declared a quarterly dividend of $0.75, representing an annualized yield of 7.0%, although the payout ratio stands at a high of 144.23%.

Shares of Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $43.08 and last traded at $42.76, with a volume of 299035 shares traded. The stock had previously closed at $39.94.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TIGO. Scotiabank downgraded Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target on the stock. in a report on Tuesday, June 17th. UBS Group raised their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their target price on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen lowered shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.08.

Millicom International Cellular Stock Up 7.6%

The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76. The firm has a market cap of $7.40 billion, a PE ratio of 20.66 and a beta of 1.04. The stock has a fifty day moving average price of $38.18 and a 200-day moving average price of $32.94.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. Research analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 7.0%. Millicom International Cellular's payout ratio is presently 144.23%.

Institutional Trading of Millicom International Cellular

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Millicom International Cellular by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after buying an additional 1,500 shares during the period. Wells Fargo & Company MN grew its holdings in Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after buying an additional 2,055 shares during the last quarter. BTG Pactual Asset Management US LLC grew its position in Millicom International Cellular by 9.6% during the fourth quarter. BTG Pactual Asset Management US LLC now owns 53,818 shares of the technology company's stock worth $1,336,000 after buying an additional 4,705 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Millicom International Cellular by 37.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock valued at $2,720,000 after acquiring an additional 29,730 shares during the period. Finally, Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the fourth quarter valued at approximately $6,165,000.

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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