Millicom International Cellular (NASDAQ:TIGO) Sets New 12-Month High – Time to Buy?

Millicom International Cellular SA (NASDAQ:TIGO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $85.05 and last traded at $83.5890, with a volume of 370538 shares traded. The stock had previously closed at $83.51.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Scotiabank boosted their price objective on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research report on Monday, March 30th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Friday, March 6th. Finally, Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Millicom International Cellular Price Performance

The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86. The company has a 50 day moving average price of $73.80 and a 200 day moving average price of $60.44. The firm has a market cap of $14.17 billion, a PE ratio of 10.68 and a beta of 0.87.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company posted $0.18 EPS. Millicom International Cellular’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts expect that Millicom International Cellular SA will post 3.23 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The firm 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s payout ratio is currently 38.22%.

Institutional Trading of Millicom International Cellular

A number of institutional investors have recently modified their holdings of TIGO. Pictet Asset Management Holding SA boosted its position in shares of Millicom International Cellular by 10.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 23,216 shares of the technology company’s stock worth $1,740,000 after purchasing an additional 2,202 shares in the last quarter. ABN AMRO Bank N.V. acquired a new stake in shares of Millicom International Cellular during the 1st quarter valued at approximately $1,301,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Millicom International Cellular in the 1st quarter worth approximately $399,000. Evolve Private Wealth LLC increased its stake in Millicom International Cellular by 5.0% in the 1st quarter. Evolve Private Wealth LLC now owns 19,607 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 940 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new stake in Millicom International Cellular during the fourth quarter worth $225,000.

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.