Millicom International Cellular (NASDAQ:TIGO) Reaches New 52-Week High After Dividend Announcement

Millicom International Cellular S.A. (NASDAQ:TIGO) shares reached a new 52-week high on Friday after the company announced a dividend. The company traded as high as $30.37 and last traded at $30.30, with a volume of 350235 shares. The stock had previously closed at $29.51.

The newly announced dividend which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be issued 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 (DPR) is currently 202.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TIGO shares. Scotiabank upped their price target on shares of 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. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report 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 report on Wednesday, January 22nd. Morgan Stanley started coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on 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. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Millicom International Cellular has a consensus rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Trading Up 2.8 %

The company has a market cap of $5.22 billion, a price-to-earnings ratio of 32.26 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 business’s 50-day simple moving average is $26.86 and its 200-day simple moving average is $26.54.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp grew its holdings in Millicom International Cellular by 6.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company’s stock valued at $227,000 after buying an additional 545 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Millicom International Cellular by 5.3% in the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after acquiring an additional 750 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after acquiring an additional 1,277 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Millicom International Cellular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock valued at $3,868,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Millicom International Cellular by 69.5% during the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after purchasing an additional 1,544 shares in 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.