Millicom International Cellular (NASDAQ:TIGO) Hits New 1-Year High on Analyst Upgrade

Millicom International Cellular SA (NASDAQ:TIGO)’s share price reached a new 52-week high during trading on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $81.40 and last traded at $80.63, with a volume of 1055867 shares. The stock had previously closed at $79.64.

Other analysts have also issued reports about the company. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Friday, March 6th. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Morgan Stanley reiterated a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. Scotiabank lifted their price target on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a report on Monday, March 30th. Finally, Wall Street Zen lowered Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average target price of $65.64.

Institutional Trading of Millicom International Cellular

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after buying an additional 314 shares during the last quarter. Allworth Financial LP grew its position in shares of Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after purchasing an additional 418 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Millicom International Cellular in the third quarter valued at $26,000. Altshuler Shaham Ltd purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $26,000. Finally, Blue Trust Inc. grew its position in shares of Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after purchasing an additional 427 shares in the last quarter.

Millicom International Cellular Stock Performance

The company has a market capitalization of $13.60 billion, a PE ratio of 10.25 and a beta of 0.87. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $70.57 and a two-hundred day moving average price of $58.24.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. Analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.7%. Millicom International Cellular’s payout ratio is 38.22%.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.