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

Millicom International Cellular SA (NASDAQ:TIGO) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $85.11 and last traded at $84.8620, with a volume of 569898 shares trading hands. The stock had previously closed at $82.22.

Analyst Upgrades and Downgrades

TIGO has been the topic of several analyst reports. Wall Street Zen cut shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Scotiabank boosted their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Millicom International Cellular Stock Down 0.7%

The firm’s 50-day simple moving average is $76.34 and its 200 day simple moving average is $61.99. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $14.25 billion, a P/E ratio of 10.74 and a beta of 0.87.

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

Millicom International Cellular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.6%. Millicom International Cellular’s payout ratio is currently 38.22%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TIGO. Smartleaf Asset Management LLC increased its stake in shares of Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after purchasing an additional 314 shares during the last quarter. Allworth Financial LP increased its stake in shares of Millicom International Cellular by 1,129.7% during the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after purchasing an additional 418 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Millicom International Cellular during the 4th quarter worth about $26,000. Blue Trust Inc. increased its stake in shares of Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth about $28,000.

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.