Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase - Should You Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) saw an uptick in trading volume on Monday . 202,008 shares changed hands during trading, an increase of 18% from the previous session's volume of 170,905 shares.The stock last traded at $29.20 and had previously closed at $28.53.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TIGO. HSBC upgraded shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. 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 note on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on Millicom International Cellular from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Finally, Morgan Stanley started coverage on Millicom International Cellular in a report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price target for the company. One equities research 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, the company currently has a consensus rating of "Buy" and a consensus price target of $33.98.

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Millicom International Cellular Price Performance

The stock's 50-day moving average is $26.77 and its two-hundred day moving average is $26.52. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $5.08 billion, a PE ratio of 31.40 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Shareholders 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 is presently 202.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in Millicom International Cellular in the 4th quarter worth about $49,000. National Bank of Canada FI acquired a new stake in shares of Millicom International Cellular in the third quarter valued at approximately $76,000. Point72 Asset Management L.P. purchased a new stake in shares of Millicom International Cellular in the 3rd quarter valued at approximately $87,000. Blue Trust Inc. lifted its holdings in Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after buying an additional 2,055 shares during the period.

About Millicom International Cellular

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.