Millicom International Cellular (NASDAQ:TIGO) Reaches New 1-Year High - Time to Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $28.87 and last traded at $28.47, with a volume of 227168 shares trading hands. The stock had previously closed at $27.86.

Analyst Ratings Changes

Several analysts have commented on TIGO shares. Hsbc Global Res upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. HSBC raised Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a research note on Wednesday, January 22nd. Finally, Scotiabank upped 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. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Millicom International Cellular presently has a consensus rating of "Buy" and a consensus target price of $33.98.

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Millicom International Cellular Stock Down 1.5 %

The firm's 50-day simple moving average is $26.23 and its 200 day simple moving average is $26.40. 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 stock has a market capitalization of $4.46 billion, a P/E ratio of 27.54 and a beta of 1.18.

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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's payout ratio is presently 202.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Perpetual Ltd acquired a new stake in shares of Millicom International Cellular in the 4th quarter valued at approximately $1,587,000. Blue Trust Inc. raised its holdings in shares of Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after purchasing an additional 1,544 shares during the period. MML Investors Services LLC lifted its stake in Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company's stock valued at $402,000 after purchasing an additional 750 shares during the last quarter. State Street Corp bought a new position in Millicom International Cellular during the third quarter worth about $231,000. Finally, Principal Securities Inc. grew its holdings in Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after purchasing an additional 1,277 shares during the period.

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.