Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High Following Dividend Announcement

Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high on Friday following a dividend announcement from the company. The stock 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 Ratings Changes

A number of equities research analysts have commented on TIGO shares. Morgan Stanley started coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price for the company. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target 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. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, January 22nd. Finally, Scotiabank lifted their price target on 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. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $33.98.

Millicom International Cellular Stock Up 2.9 %

The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The company has a market cap of $5.23 billion, a PE ratio of 32.32 and a beta of 1.23. The firm has a fifty day simple moving average of $26.98 and a 200 day simple moving average of $26.56.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of TIGO. Southeastern Asset Management Inc. TN acquired a new position in Millicom International Cellular during the 4th quarter worth approximately $60,306,000. Park West Asset Management LLC acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $6,165,000. Brandes Investment Partners LP raised its position in shares of Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock valued at $114,402,000 after purchasing an additional 68,061 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $1,587,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $1,319,000.

About Millicom International Cellular

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.