Millicom International Cellular (NASDAQ:TIGO) Trading 3.6% Higher – Here’s Why

Millicom International Cellular S.A. (NASDAQ:TIGO) traded up 3.6% during trading on Tuesday . The company traded as high as $31.23 and last traded at $31.32. 480,063 shares changed hands during mid-day trading, an increase of 138% from the average session volume of 201,795 shares. The stock had previously closed at $30.24.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TIGO shares. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, January 22nd. Scotiabank upped their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a report on Friday, February 28th. Morgan Stanley began coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Price Performance

The stock has a market capitalization of $5.37 billion, a PE ratio of 33.25 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The stock’s fifty day moving average is $27.08 and its 200-day moving average is $26.59.

Millicom International Cellular Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be paid a dividend of $0.75 per share. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 8th. Millicom International Cellular’s payout ratio is currently 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently modified their holdings of the business. Perpetual Ltd purchased a new position in Millicom International Cellular during the fourth quarter worth approximately $1,587,000. Assetmark Inc. raised its stake in shares of Millicom International Cellular by 4,044.9% during the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company’s stock worth $687,000 after buying an additional 26,818 shares during the period. Blue Trust Inc. lifted its position in shares of Millicom International Cellular by 69.5% during the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after buying an additional 1,544 shares in the last quarter. Brandes Investment Partners LP grew its stake in Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock valued at $114,402,000 after acquiring an additional 68,061 shares during the period. Finally, MML Investors Services LLC increased its holdings in Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after acquiring an additional 750 shares in the last quarter.

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.