Millicom International Cellular (NASDAQ:TIGO) Sees Unusually-High Trading Volume – What’s Next?

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-strong trading volume on Monday . Approximately 160,779 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 194,671 shares.The stock last traded at $30.91 and had previously closed at $30.38.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TIGO shares. Morgan Stanley began coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Scotiabank boosted their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research report on Friday, February 28th. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular presently has an average rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Stock Performance

The business has a 50 day moving average of $27.21 and a 200-day moving average of $26.63. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The company has a market capitalization of $5.36 billion, a P/E ratio of 33.12 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be given a $0.75 dividend. The ex-dividend date is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Millicom International Cellular by 95.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after acquiring an additional 52,638 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Millicom International Cellular during the third quarter valued at approximately $168,000. Point72 Asset Management L.P. purchased a new position in shares of Millicom International Cellular in the third quarter worth $87,000. Quantinno Capital Management LP bought a new position in Millicom International Cellular during the 3rd quarter valued at about $261,000. Finally, State Street Corp purchased a new stake in Millicom International Cellular in the third quarter worth approximately $231,000.

Millicom International Cellular Company Profile

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.