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

Millicom International Cellular S.A. (NASDAQ:TIGO) shares reached a new 52-week high on Thursday . The stock traded as high as $28.87 and last traded at $28.47, with a volume of 227168 shares trading hands. The stock had previously closed at $27.86.

Analysts Set New Price Targets

TIGO has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Scotiabank increased their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research report on Friday. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, January 22nd. Finally, Morgan Stanley initiated coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price objective for the company. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $33.98.

Millicom International Cellular Stock Down 3.2 %

The business has a 50 day moving average of $26.23 and a 200 day moving average of $26.39. 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 firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 27.96 and a beta of 1.18.

Millicom International Cellular Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, January 10th. Investors of record on Friday, January 3rd were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s payout ratio is 106.38%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Brandes Investment Partners LP raised its stake in Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after acquiring an additional 68,061 shares in the last quarter. Southeastern Asset Management Inc. TN bought a new position in shares of Millicom International Cellular during the fourth quarter valued at $60,306,000. LB Partners LLC lifted its holdings in shares of Millicom International Cellular by 1.4% during the fourth quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock valued at $12,978,000 after acquiring an additional 7,000 shares during the period. Park West Asset Management LLC bought a new position in shares of Millicom International Cellular during the fourth quarter valued at $6,165,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Millicom International Cellular by 47.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock valued at $3,993,000 after acquiring an additional 51,620 shares during the period.

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.