Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High – Time to Buy?

Millicom International Cellular SA (NASDAQ:TIGO)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $89.67 and last traded at $88.9430, with a volume of 565510 shares. The stock had previously closed at $87.36.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TIGO shares. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. 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. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Morgan Stanley reissued a “positive” rating and issued a $55.00 target price on shares of Millicom International Cellular in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average target price of $77.28.

Millicom International Cellular Stock Up 3.2%

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The company has a market cap of $15.57 billion, a P/E ratio of 12.51 and a beta of 0.91. The company has a fifty day moving average of $83.09 and a 200 day moving average of $69.16.

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

Millicom International Cellular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.3%. Millicom International Cellular’s payout ratio is presently 40.76%.

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction on Monday, June 1st. The stock was 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 owned 165,344 shares of the company’s stock, valued at $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is owned by insiders.

Institutional Trading of Millicom International Cellular

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Millicom International Cellular by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock worth $372,202,000 after acquiring an additional 253,891 shares during the period. Barclays PLC grew its holdings in Millicom International Cellular by 1.7% during the third quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock valued at $140,534,000 after purchasing an additional 47,194 shares during the period. State Street Corp grew its holdings in Millicom International Cellular by 14.9% during the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock valued at $126,364,000 after purchasing an additional 296,319 shares during the period. Goldman Sachs Group Inc. bought a new stake in Millicom International Cellular during the first quarter valued at about $50,664,000. Finally, Boston Partners grew its holdings in Millicom International Cellular by 2.7% during the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock valued at $88,911,000 after purchasing an additional 41,765 shares during the period.

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.