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In a remarkable display of market confidence, Millicom International Cellular’s stock (TIGO) has reached a 52-week high, climbing to $28.76. This peak reflects a significant surge in value, with the company’s shares delivering an impressive 66.94% return over the past year. The $4.84 billion market cap company boasts a perfect Piotroski Score of 9, according to InvestingPro data, indicating strong financial health. Investors have shown increasing enthusiasm for TIGO, as the telecommunications and media company continues to expand its footprint in Latin America and Africa, capitalizing on the growing demand for mobile and broadband services in these regions. With annual revenues of $5.85 billion and an "GREAT" financial health score from InvestingPro, which offers 8 additional valuable insights about TIGO’s potential, the 52-week high milestone underscores the positive sentiment surrounding Millicom’s strategic initiatives and operational performance, which have collectively fueled the stock’s impressive ascent.
In other recent news, Millicom International Cellular S.A. announced plans to resume regular cash dividends, which led to an 11% rise in its shares. The company’s Board of Directors has outlined a new shareholder remuneration policy, aiming to sustain or grow dividends annually while maintaining a leverage target range between 2.0 and 2.5 times. An interim dividend of $1.00 per share was already paid in January, with plans for an additional $0.75 per share in April 2025. Furthermore, a proposal for a $3.00 per share dividend is set for the Annual General Meeting in May 2025.
Additionally, Morgan Stanley (NYSE:MS) has initiated coverage on Millicom with an Equalweight rating, setting a price target of $32.00. The firm highlighted Millicom’s revenue performance in Colombia, where it reported $1.4 billion in 2024 with a strong EBITDA margin of 40%. Morgan Stanley identified potential market consolidation in Colombia as a factor that could benefit Millicom through market repair, synergies, and reduced capital costs. The completion of a $975 million tower transaction by mid-2025 is also seen as a potential driver for the company’s stock.
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