Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High Following Strong Earnings

Millicom International Cellular SA (NASDAQ:TIGO) shares hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $72.23 and last traded at $70.2280, with a volume of 363553 shares changing hands. The stock had previously closed at $66.70.

The technology company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Scotiabank lowered Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $46.80 to $43.00 in a research note on Wednesday, February 11th. Zacks Research lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price target for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.00.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors have recently bought and sold shares of TIGO. Invesco Ltd. raised its stake in Millicom International Cellular by 14.8% during the fourth quarter. Invesco Ltd. now owns 181,118 shares of the technology company’s stock worth $10,041,000 after purchasing an additional 23,336 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of Millicom International Cellular during the 4th quarter valued at $225,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Millicom International Cellular during the 4th quarter worth $265,000. Vident Advisory LLC raised its position in shares of Millicom International Cellular by 2.3% in the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after buying an additional 254 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in Millicom International Cellular in the fourth quarter valued at $4,510,000.

Millicom International Cellular Stock Up 3.9%

The stock has a fifty day moving average of $59.48 and a two-hundred day moving average of $52.51. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 10.67 and a beta of 0.93.

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.