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

Millicom International Cellular S.A. (NASDAQ:TIGO) shares reached a new 52-week high 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. Investors of record on Tuesday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio is presently 202.70%.

Analyst Ratings Changes

A number of research analysts have weighed in on TIGO shares. Morgan Stanley started coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price objective for the company. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Scotiabank upped their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research report on Friday, February 28th. Finally, HSBC upgraded 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 report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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 firm’s 50-day moving average is $27.46 and its two-hundred day moving average is $26.70. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 33.12 and a beta of 1.23.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its position 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 worth $227,000 after purchasing an additional 545 shares during the last quarter. MML Investors Services LLC grew its stake in 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 acquiring an additional 750 shares in the last quarter. Principal Securities Inc. grew its stake in Millicom International Cellular by 22.2% during the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after acquiring an additional 1,277 shares in the last quarter. Geode Capital Management LLC grew its stake in Millicom International Cellular by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock valued at $3,868,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Millicom International Cellular by 69.5% during the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,544 shares in the last quarter.

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.