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

Millicom International Cellular S.A. (NASDAQ:TIGO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.25 and last traded at $34.02, with a volume of 990525 shares changing hands. The stock had previously closed at $33.95.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TIGO shares. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Scotiabank increased their target price on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research report on Friday, February 28th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on Millicom International Cellular from $33.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. Finally, Morgan Stanley initiated coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

Millicom International Cellular Trading Up 0.2 %

The business has a fifty day moving average price of $29.53 and a 200 day moving average price of $27.36. The company has a market capitalization of $5.85 billion, a PE ratio of 36.19 and a beta of 0.90. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular Dividend Announcement

The business also recently declared an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were given a dividend of $0.75 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is presently 202.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TIGO. Southeastern Asset Management Inc. TN purchased a new position in Millicom International Cellular in the 4th quarter valued at about $60,306,000. Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the 4th quarter valued at approximately $6,165,000. Brandes Investment Partners LP increased its holdings in Millicom International Cellular by 1.5% during the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after purchasing an additional 68,061 shares during the last quarter. Perpetual Ltd acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $1,587,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Millicom International Cellular during the 4th quarter valued at approximately $1,319,000.

About Millicom International Cellular

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.