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In a remarkable display of resilience and growth, Millicom International Cellular SA (NASDAQ:TIGO) stock has reached a 52-week high, climbing to $28.98. According to InvestingPro data, the company boasts a robust free cash flow yield of 22% and an impressive EBITDA of $2.3 billion. This peak reflects a significant turnaround for the telecommunications company, which has seen its stock value surge by 60.1% over the past year. Investors have shown increased confidence in TIGO’s strategic initiatives and market position, propelling the stock to new heights and marking a period of robust financial performance. The company’s ascent to this 52-week high underscores its potential in the competitive telecom sector and the positive sentiment surrounding its future prospects. InvestingPro analysis suggests the stock may still have room to grow, with multiple additional ProTips available for subscribers.
In other recent news, Millicom International Cellular S.A. has announced a new shareholder remuneration policy, which includes resuming regular cash dividends. The company plans to sustain or grow these dividends annually while targeting a long-term leverage range between 2.0 and 2.5 times. Following its fourth-quarter 2024 results, Millicom intends to pay an interim dividend of $0.75 per share in April 2025. Additionally, a proposed dividend of $3.00 per share is set for approval at the Annual General Meeting in May 2025, with distribution planned in four equal installments over the next year.
Morgan Stanley (NYSE:MS) has initiated coverage on Millicom’s U.S. listing with an Equalweight rating and a price target of $32.00. The firm highlights the completion of a $975 million tower transaction and potential market consolidation in Colombia as key factors for future growth. In 2024, Millicom reported revenues of $1.4 billion in Colombia, with a strong EBITDA margin of around 40%. Morgan Stanley notes that successful market consolidation could offer Millicom advantages such as synergies and a reduced cost of capital. The firm’s outlook is based on Millicom’s financial performance and strategic moves in the Latin American telecommunications sector.
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