Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High – Time to Buy?

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $62.81 and last traded at $62.80, with a volume of 817261 shares traded. The stock had previously closed at $60.65.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TIGO. Scotiabank lifted their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a report on Friday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Zacks Research lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.95.

Millicom International Cellular Stock Performance

The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 10.25 and a beta of 0.93. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $55.52 and a two-hundred day simple moving average of $49.96.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.40 billion. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Millicom International Cellular by 155.4% during the third 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 Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular during the 3rd quarter worth $26,000. Blue Trust Inc. raised its position in 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 buying an additional 427 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Millicom International Cellular in the 3rd quarter worth $28,000.

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.