Millicom International Cellular (NASDAQ:TIGO) Trading 3.6% Higher - Time to Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $31.23 and last traded at $31.32. 480,063 shares changed hands during trading, an increase of 138% from the average session volume of 201,795 shares. The stock had previously closed at $30.24.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Scotiabank raised their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a "sector outperform" rating in a report on Friday, February 28th. Morgan Stanley assumed coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Hsbc Global Res raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on shares of 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, HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Millicom International Cellular currently has a consensus rating of "Buy" and an average target price of $33.98.

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Millicom International Cellular Stock Performance

The stock has a market cap of $5.15 billion, a P/E ratio of 31.85 and a beta of 1.23. 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 firm's 50-day moving average price is $27.58 and its 200-day moving average price is $26.72.

Millicom International Cellular Dividend Announcement

The firm also recently declared 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. This represents a yield of 3.9%. The ex-dividend date is Tuesday, April 8th. Millicom International Cellular's dividend payout ratio is presently 202.70%.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently bought and sold shares of the business. Vident Advisory LLC increased its position in Millicom International Cellular by 24.7% in the fourth quarter. Vident Advisory LLC now owns 10,440 shares of the technology company's stock worth $261,000 after purchasing an additional 2,071 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Millicom International Cellular in the fourth quarter worth $1,319,000. Two Sigma Advisers LP bought a new stake in Millicom International Cellular in the fourth quarter worth $988,000. Two Sigma Investments LP increased its position in Millicom International Cellular by 229.3% during the fourth quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company's stock valued at $1,428,000 after acquiring an additional 39,771 shares during the last quarter. Finally, State of Wyoming bought a new position in Millicom International Cellular during the fourth quarter valued at $49,000.

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.