Millicom International Cellular (NASDAQ:TIGO) Reaches New 1-Year High – Still a Buy?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high on Wednesday . The stock traded as high as $89.67 and last traded at $88.9430, with a volume of 565510 shares trading hands. The stock had previously closed at $87.36.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Tuesday, May 26th. Scotiabank increased their price target on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. increased their price target on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Millicom International Cellular Trading Up 2.3%

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The company has a fifty day moving average of $82.43 and a two-hundred day moving average of $68.62. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 12.13 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. On average, research analysts expect that Millicom International Cellular SA will post 2.34 EPS for the current year.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be given a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a yield of 3.4%. Millicom International Cellular’s dividend payout ratio is presently 40.76%.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Allworth Financial LP raised its position in Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after acquiring an additional 418 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $26,000. Blue Trust Inc. increased its position in shares of Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after buying an additional 427 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $29,000.

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.