Millicom International Cellular (NASDAQ:TIGO) Sets New 1-Year High - Still a Buy?

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%.

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report)'s stock price hit a new 52-week high during mid-day 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

TIGO has been the subject of several analyst reports. UBS Group upped their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Scotiabank cut Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target for the company. in a report on Tuesday, June 17th. Finally, Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Saturday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of "Moderate Buy" and an average target price of $38.08.

Millicom International Cellular Stock Performance

The firm has a 50 day moving average price of $38.50 and a 200-day moving average price of $33.33. The company has a market cap of $7.32 billion, a P/E ratio of 7.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.28%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. On average, research analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Tuesday, July 8th. Millicom International Cellular's dividend payout ratio (DPR) is presently 52.91%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new stake in shares of Millicom International Cellular in the second quarter valued at about $30,000. State of Wyoming bought a new stake in shares of Millicom International Cellular in the fourth quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Millicom International Cellular in the first quarter valued at approximately $84,000. Wells Fargo & Company MN lifted its stake in Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after purchasing an additional 2,055 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after purchasing an additional 2,489 shares during the last quarter.

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.