Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High After Dividend Announcement

Millicom International Cellular S.A. (NASDAQ:TIGO) shares hit a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $31.63 and last traded at $31.22, with a volume of 912344 shares changing hands. The stock had previously closed at $31.13.

The newly announced dividend which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 202.70%.

Analysts Set New Price Targets

TIGO has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Scotiabank upped 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 report on Friday, February 28th. Morgan Stanley assumed coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price objective for the company. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, January 22nd. Finally, Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The stock’s 50-day moving average is $27.58 and its 200-day moving average is $26.72. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 31.85 and a beta of 1.23.

Institutional Trading of Millicom International Cellular

Several large investors have recently bought and sold shares of TIGO. Jones Financial Companies Lllp boosted its stake in shares of 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 boosted its stake in shares of Millicom International Cellular by 5.3% during the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock valued at $402,000 after buying an additional 750 shares during the last quarter. Principal Securities Inc. lifted its stake in Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock worth $176,000 after purchasing an additional 1,277 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 worth $3,868,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Millicom International Cellular by 69.5% during the fourth 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 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.