Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High – Here’s Why

Millicom International Cellular SA (NASDAQ:TIGO)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $51.80 and last traded at $51.5150, with a volume of 180462 shares. The stock had previously closed at $50.57.

Wall Street Analyst Weigh In

TIGO has been the topic of several recent analyst reports. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Scotiabank lifted their target price on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research report on Friday, November 7th. Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Finally, UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their price objective for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.13.

Millicom International Cellular Trading Up 1.0%

The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The firm has a 50-day moving average of $47.75 and a 200-day moving average of $42.09. The firm has a market capitalization of $8.79 billion, a P/E ratio of 9.03 and a beta of 1.11.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Large investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC raised its stake in Millicom International Cellular by 0.3% in the second quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock worth $3,656,000 after buying an additional 300 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in 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 acquiring an additional 314 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after acquiring an additional 453 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Millicom International Cellular by 32.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,867 shares of the technology company’s stock worth $91,000 after acquiring an additional 454 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Millicom International Cellular by 4.7% in the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company’s stock valued at $339,000 after purchasing an additional 508 shares during the period.

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.