Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High – What’s Next?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.70 and last traded at $59.62, with a volume of 981330 shares changing hands. The stock had previously closed at $58.28.

Wall Street Analyst Weigh In

TIGO has been the topic of several research analyst reports. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. raised their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Finally, Scotiabank lifted their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.56.

Millicom International Cellular Stock Up 1.3%

The firm has a market capitalization of $10.56 billion, a P/E ratio of 9.40 and a beta of 0.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a 50 day moving average of $54.02 and a 200-day moving average of $48.49.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s revenue was down .8% compared to the same quarter last year. Research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Millicom International Cellular by 348.9% in the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after acquiring an additional 5,020,602 shares during the period. Perpetual Ltd lifted its holdings in Millicom International Cellular by 5,283.2% during the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock worth $132,610,000 after purchasing an additional 2,681,221 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Millicom International Cellular in the 1st quarter worth about $50,664,000. State Street Corp grew its holdings in Millicom International Cellular by 129.2% during the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock valued at $68,198,000 after buying an additional 1,026,063 shares in the last quarter. Finally, Marathon Asset Management Ltd bought a new stake in shares of Millicom International Cellular during the third quarter valued at about $47,789,000.

About Millicom International Cellular

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.