Millicom International Cellular (NASDAQ:TIGO) Sees Strong Trading Volume – Should You Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO) shares saw strong trading volume on Monday . 261,475 shares were traded during trading, an increase of 19% from the previous session’s volume of 220,417 shares.The stock last traded at $29.69 and had previously closed at $29.94.

Analysts Set New Price Targets

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

Millicom International Cellular Price Performance

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 company’s 50 day moving average price is $27.80 and its 200 day moving average price is $26.77. The firm has a market capitalization of $5.09 billion, a P/E ratio of 31.46 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of Millicom International Cellular by 95.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after acquiring an additional 52,638 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Millicom International Cellular in the third quarter valued at about $168,000. Point72 Asset Management L.P. bought a new position in Millicom International Cellular during the third quarter worth about $87,000. Quantinno Capital Management LP acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth about $261,000. Finally, State Street Corp bought a new stake in shares of Millicom International Cellular in the 3rd quarter valued at about $231,000.

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.