Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High - Here's What Happened

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $32.46 and last traded at $32.45, with a volume of 1371810 shares trading hands. The stock had previously closed at $30.65.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research note on Friday, February 28th. 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 price target for the company. HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 target price for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Finally, Hsbc Global Res raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.65.

Millicom International Cellular Trading Up 5.9 %

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 $5.58 billion, a P/E ratio of 34.52 and a beta of 0.90. The firm's fifty day simple moving average is $28.67 and its 200 day simple moving average is $27.06.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular's dividend payout ratio is 202.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIGO. State of Wyoming bought a new stake in Millicom International Cellular during the 4th quarter worth approximately $49,000. Blue Trust Inc. raised its position in 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 buying an additional 1,544 shares during the last quarter. Wells Fargo & Company MN lifted its stake in 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 acquiring an additional 2,055 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Millicom International Cellular by 22.2% in the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after acquiring an additional 1,277 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock valued at $227,000 after purchasing an additional 545 shares during the last quarter.

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.