Millicom International Cellular (NASDAQ:TIGO) Trading 3.6% Higher – Here’s What Happened

Millicom International Cellular S.A. (NASDAQ:TIGO) shares rose 3.6% on Tuesday . The stock traded as high as $31.23 and last traded at $31.32. Approximately 480,063 shares changed hands during mid-day trading, an increase of 138% from the average daily volume of 201,795 shares. The stock had previously closed at $30.24.

Wall Street Analyst Weigh In

TIGO has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered 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. 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 report on Wednesday, January 22nd. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price objective for the company. Scotiabank boosted their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research report on Friday, February 28th. 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 investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Trading Up 0.3 %

The firm’s 50 day moving average is $27.34 and its 200 day moving average is $26.66. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 33.31 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio is currently 202.70%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TIGO. Southeastern Asset Management Inc. TN acquired a new position in shares of Millicom International Cellular during the 4th quarter worth $60,306,000. Park West Asset Management LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $6,165,000. Brandes Investment Partners LP boosted its holdings in shares of Millicom International Cellular by 1.5% during the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after buying an additional 68,061 shares during the period. Perpetual Ltd bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $1,587,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter worth $1,319,000.

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.