Millicom International Cellular (NASDAQ:TIGO) Sets New 1-Year High – What’s Next?
by Danessa Lincoln · The Markets DailyMillicom International Cellular SA (NASDAQ:TIGO – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.70 and last traded at $59.62, with a volume of 981330 shares changing hands. The stock had previously closed at $58.28.
Analysts Set New Price Targets
Several brokerages have recently weighed in on TIGO. JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Scotiabank boosted their price target on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Wall Street Zen upgraded shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. Finally, UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.56.
Check Out Our Latest Research Report on TIGO
Millicom International Cellular Price Performance
The stock has a 50-day moving average of $53.60 and a two-hundred day moving average of $48.25. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 9.13 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76.
Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current year.
Hedge Funds Weigh In On Millicom International Cellular
Several institutional investors and hedge funds have recently added to or reduced their stakes in TIGO. Dodge & Cox raised its stake in Millicom International Cellular by 1.5% during the 2nd quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock valued at $331,090,000 after purchasing an additional 134,400 shares during the period. Brandes Investment Partners LP boosted its position in shares of Millicom International Cellular by 2.5% in the second quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company’s stock worth $248,228,000 after buying an additional 161,861 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Millicom International Cellular by 348.9% during the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after buying an additional 5,020,602 shares in the last quarter. Boston Partners raised its position in Millicom International Cellular by 22.1% during the second quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock valued at $110,779,000 after buying an additional 535,399 shares during the period. Finally, Barclays PLC lifted its stake in Millicom International Cellular by 1.7% in the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after acquiring an additional 47,194 shares in the last quarter.
About Millicom International Cellular
Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.
Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.