Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High – What’s Next?

Millicom International Cellular SA (NASDAQ:TIGO)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $94.73 and last traded at $89.45, with a volume of 1945542 shares. The stock had previously closed at $93.77.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TIGO. UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research report on Tuesday, May 26th. JPMorgan Chase & Co. upped their target price on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Finally, HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.28.

Millicom International Cellular Trading Up 1.9%

The company has a fifty day simple moving average of $83.95 and a 200-day simple moving average of $70.18. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The stock has a market cap of $15.03 billion, a price-to-earnings ratio of 12.08 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. On average, research analysts forecast that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s payout ratio is presently 40.76%.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the sale, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Millicom International Cellular

A number of hedge funds have recently made changes to their positions in TIGO. Smartleaf Asset Management LLC boosted its stake in shares of Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares during the period. Allworth Financial LP boosted its stake in shares of Millicom International Cellular by 1,129.7% during the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after buying an additional 427 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at $29,000.

Millicom International Cellular Company Profile

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.