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Millicom International Cellular SA (NASDAQ:TIGO) stock reached a significant milestone, hitting a 52-week high of $43.07. This achievement underscores a robust performance over the past year, with the stock delivering an impressive 74.31% year-to-date return. According to InvestingPro analysis, the $7.1 billion telecom company appears undervalued, while offering an attractive 7.51% dividend yield. The Luxembourg-based telecommunications company has seen its shares rise steadily, reflecting investor confidence and positive market sentiment. This 52-week high marks a pivotal point for Millicom, as it continues to expand its services across Latin America and Africa, contributing to its impressive year-over-year growth. With a "GREAT" financial health score and multiple positive indicators, InvestingPro subscribers can access 8 additional exclusive insights about TIGO’s potential.
In other recent news, Millicom International Cellular reported its second-quarter earnings, which significantly surpassed analyst expectations. The company achieved an earnings per share (EPS) of $4.03, exceeding estimates by $3.49. However, revenue slightly missed forecasts, coming in at $1.37 billion compared to the anticipated $1.4 billion. Millicom’s quarterly performance was notably enhanced by approximately $590 million in net profit from infrastructure transactions, contributing to a total net profit of $676 million for the quarter. Despite a 5.9% decline in revenue compared to the same period last year, the company experienced a 1.9% growth on an organic basis. These developments reflect recent activities surrounding Millicom.
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