Millicom International Cellular (NASDAQ:TIGO) Reaches New 52-Week High at $26.54

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $26.54 and last traded at $26.38, with a volume of 51206 shares. The stock had previously closed at $25.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 price target on the stock. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.00 to $33.00 in a research note on Thursday, August 15th. Hsbc Global Res downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Scotiabank reissued a “sector perform” rating and issued a $30.00 price target on shares of Millicom International Cellular in a research note on Wednesday, August 7th. Finally, HSBC downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus price target of $28.20.

Millicom International Cellular Stock Up 2.9 %

The company has a market cap of $2.71 billion, a price-to-earnings ratio of 533.60 and a beta of 1.22. The business has a 50-day simple moving average of $24.72 and a two-hundred day simple moving average of $21.93. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.74.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Friday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.05). Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%. The company had revenue of $1.46 billion during the quarter. During the same period in the prior year, the business posted ($0.13) EPS.

Institutional Trading of Millicom International Cellular

Several large investors have recently modified their holdings of the company. Millennium Management LLC lifted its position in Millicom International Cellular by 138.9% during the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after acquiring an additional 157,205 shares during the last quarter. Morningstar Investment Services LLC increased its stake in shares of Millicom International Cellular by 105.6% in the fourth quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after purchasing an additional 126,679 shares during the period. Renaissance Technologies LLC lifted its position in shares of Millicom International Cellular by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after purchasing an additional 83,939 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Millicom International Cellular during the 1st quarter worth about $1,216,000. Finally, Optiver Holding B.V. boosted its stake in Millicom International Cellular by 216.0% during the 4th quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock valued at $1,019,000 after purchasing an additional 38,697 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.