Millicom International Cellular (NASDAQ:TIGO) Reaches New 52-Week High – Here’s What Happened

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $51.80 and last traded at $51.5150, with a volume of 180462 shares changing hands. The stock had previously closed at $50.57.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Scotiabank upped their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and upped their price objective for the company from $39.50 to $49.00 in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.13.

Millicom International Cellular Stock Up 1.0%

The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $8.79 billion, a PE ratio of 9.03 and a beta of 1.11. The stock’s fifty day simple moving average is $47.75 and its 200-day simple moving average is $42.09.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The business’s revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Institutional Trading of Millicom International Cellular

A number of large investors have recently added to or reduced their stakes in TIGO. Bank of New York Mellon Corp purchased a new position in Millicom International Cellular in the first quarter valued at approximately $1,130,000. Envestnet Asset Management Inc. boosted its holdings in Millicom International Cellular by 26.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 133,732 shares of the technology company’s stock worth $4,048,000 after buying an additional 28,284 shares during the period. Cerity Partners LLC lifted its position in shares of Millicom International Cellular by 4.7% during the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company’s stock worth $339,000 after acquiring an additional 508 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Millicom International Cellular in the first quarter valued at $22,999,000. Finally, Segall Bryant & Hamill LLC bought a new position in Millicom International Cellular in the 1st quarter worth about $2,945,000.

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.