Millicom International Cellular (NASDAQ:TIGO) Sets New 1-Year High Following Dividend Announcement

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

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 of this dividend is Tuesday, April 8th. Millicom International Cellular’s dividend payout ratio is currently 202.70%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Scotiabank lifted 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 report on Friday, February 28th. 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. 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 target on the stock. 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. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Millicom International Cellular presently has an average rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Stock Down 0.3 %

The stock has a market capitalization of $5.36 billion, a PE ratio of 33.12 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 fifty day moving average price is $27.46 and its two-hundred day moving average price is $26.70.

Institutional Investors Weigh In On Millicom International Cellular

A number of large investors have recently made changes to their positions in TIGO. Jones Financial Companies Lllp lifted its position in Millicom International Cellular by 6.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company’s stock valued at $227,000 after purchasing an additional 545 shares during the period. MML Investors Services LLC lifted its position in Millicom International Cellular by 5.3% during the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock valued at $402,000 after purchasing an additional 750 shares during the period. Principal Securities Inc. lifted its position 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 valued at $176,000 after purchasing an additional 1,277 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $3,868,000 after purchasing an additional 1,500 shares during the period. Finally, Blue Trust Inc. lifted its position 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 valued at $102,000 after purchasing an additional 1,544 shares during the period.

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.