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

Millicom International Cellular S.A. (NASDAQ:TIGOGet Free Report) 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.

Read Our Latest Research Report on Millicom International Cellular

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

(Get Free Report)

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.

Further Reading

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