Millicom International Cellular (NASDAQ:TIGO) Sets New 1-Year High After Analyst Upgrade

Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $41.00 to $50.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Millicom International Cellular traded as high as $38.50 and last traded at $36.24, with a volume of 1113306 shares changing hands. The stock had previously closed at $36.89.

Several other equities research analysts have also recently issued reports on TIGO. Barclays lowered their target price on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Scotiabank upped their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. UBS Group upped their price target on Millicom International Cellular from $31.50 to $39.50 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.23.

Institutional Trading of Millicom International Cellular

A number of large investors have recently made changes to their positions in TIGO. Blue Trust Inc. boosted its stake in shares of Millicom International Cellular by 69.5% during the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,544 shares during the last quarter. LB Partners LLC lifted its stake in shares of Millicom International Cellular by 1.4% in the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock valued at $12,978,000 after purchasing an additional 7,000 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Millicom International Cellular by 22.2% in the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after purchasing an additional 1,277 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Millicom International Cellular by 6.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company’s stock worth $227,000 after acquiring an additional 545 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Millicom International Cellular by 47.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock worth $3,993,000 after acquiring an additional 51,620 shares in the last quarter.

Millicom International Cellular Stock Down 1.8%

The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average of $32.23 and a 200 day moving average of $28.46. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 38.55 and a beta of 1.03.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that Millicom International Cellular S.A. will post 1.91 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio is currently 144.23%.

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.