Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High – Here’s Why

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $75.47 and last traded at $75.0910, with a volume of 405273 shares trading hands. The stock had previously closed at $74.55.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Scotiabank cut Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and lowered their price target for the stock from $46.80 to $43.00 in a report on Wednesday, February 11th. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.33.

Millicom International Cellular Stock Performance

The company’s 50-day simple moving average is $66.01 and its 200-day simple moving average is $55.82. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of 9.55 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The company 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%. Millicom International Cellular’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors have recently made changes to their positions in the stock. Dodge & Cox raised its position in shares of Millicom International Cellular by 1.5% during the second quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock worth $331,090,000 after acquiring an additional 134,400 shares during the last quarter. JPMorgan Chase & Co. increased its position in Millicom International Cellular by 3.9% during the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after purchasing an additional 253,891 shares during the period. Brandes Investment Partners LP increased its position in Millicom International Cellular by 2.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company’s stock valued at $248,228,000 after purchasing an additional 161,861 shares during the period. Boston Partners raised its holdings in Millicom International Cellular by 22.1% during the 2nd quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock worth $110,779,000 after purchasing an additional 535,399 shares during the last quarter. Finally, Barclays PLC raised its holdings in Millicom International Cellular by 1.7% during the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after purchasing an additional 47,194 shares during the last quarter.

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.