Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase - Time to Buy?

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) saw an uptick in trading volume on Monday . 261,475 shares changed hands during mid-day trading, an increase of 19% from the previous session's volume of 220,417 shares.The stock last traded at $29.69 and had previously closed at $29.94.

Analyst Upgrades and Downgrades

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

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Millicom International Cellular Stock Performance

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The business has a 50 day moving average price of $27.92 and a 200 day moving average price of $26.82. The stock has a market capitalization of $5.19 billion, a PE ratio of 32.10 and a beta of 1.23.

Millicom International Cellular Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio (DPR) is presently 202.70%.

Institutional Trading of Millicom International Cellular

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming purchased a new position in Millicom International Cellular in the 4th quarter worth about $49,000. National Bank of Canada FI purchased a new stake in Millicom International Cellular during the 3rd quarter valued at $76,000. Point72 Asset Management L.P. bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at $87,000. Blue Trust Inc. boosted its stake 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 worth $102,000 after buying an additional 1,544 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after purchasing an additional 2,055 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.