Millicom International Cellular (NASDAQ:TIGO) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Millicom International Cellular from “strong buy” to “hold.” Analyst sentiment overall is also “hold,” with an average price target of $85.68.
• Quarterly revenue climbed 60.8% year over year to $2.28 billion, beating estimates of $2.23 billion, but earnings per share of $0.58 fell short of the $0.98 consensus.
• Other analysts gave mixed signals: JPMorgan lowered its rating to neutral while raising its price target to $105, and UBS maintained a neutral rating with a higher $100 target.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks reports.

A number of other analysts also recently weighed in on TIGO. JPMorgan Chase & Co. downgraded Millicom International Cellular from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $100.00 to $105.00 in a research note on Tuesday, August 18th. Royal Bank Of Canada set a $105.00 price target on shares of Millicom International Cellular in a report on Tuesday, August 18th. UBS Group increased their price objective on Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Weiss Ratings raised Millicom International Cellular from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Finally, Scotiabank raised their target price on shares of Millicom International Cellular from $52.40 to $60.10 and gave the stock a "sector underperform" rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $85.68.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $79.12 on Wednesday. The company's fifty day moving average price is $87.57 and its 200 day moving average price is $83.17. The firm has a market capitalization of $13.37 billion, a P/E ratio of 22.34 and a beta of 1.00. Millicom International Cellular has a 12 month low of $46.85 and a 12 month high of $107.13. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.53 and a quick ratio of 0.51.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Thursday, November 5th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.40). Millicom International Cellular had a return on equity of 18.39% and a net margin of 9.19%. The business had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter last year, the business posted $1.17 earnings per share. The business's revenue was up 60.8% on a year-over-year basis. As a group, sell-side analysts predict that Millicom International Cellular will post 2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Millicom International Cellular by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company's stock worth $65,000 after acquiring an additional 139 shares during the last quarter. Triumph Capital Management raised its holdings in shares of Millicom International Cellular by 3.0% during the second quarter. Triumph Capital Management now owns 5,170 shares of the technology company's stock valued at $469,000 after buying an additional 151 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Millicom International Cellular by 32.4% during the second quarter. Allworth Financial LP now owns 650 shares of the technology company's stock valued at $59,000 after buying an additional 159 shares during the last quarter. Altshuler Shaham Ltd boosted its position in shares of Millicom International Cellular by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company's stock worth $47,000 after buying an additional 170 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Millicom International Cellular by 24.9% during the third quarter. Farther Finance Advisors LLC now owns 1,142 shares of the technology company's stock worth $100,000 after buying an additional 228 shares during the period.

Trending Headlines about Millicom International Cellular

Here are the key news stories impacting Millicom International Cellular this week:

• Positive Sentiment: Revenue rose 60.8% year over year to $2.28 billion, beating analysts’ estimate of $2.23 billion; organic growth was 4.8%. Adjusted EBITDA increased 57.7% to $1.09 billion, and equity free cash flow grew 27.1% to $316 million. Millicom Q3 2026 Earnings Release
• Positive Sentiment: Millicom said leverage decreased to 2.53x, including its acquisitions in Colombia, Ecuador and Uruguay. It also increased the January and April 2027 dividend payments by an additional $0.75 per share, following a shift to a May-to-May dividend cycle. Millicom Q3 2026 Earnings Release
• Neutral Sentiment: Reported revenue growth was partly acquisition-driven: organic growth was more modest at 4.8%. Millicom Q3 2026 Earnings Release
• Negative Sentiment: EPS was $0.58, missing the $0.98 consensus estimate. Reports attributed the shortfall in part to one-time charges; net profit attributable to company owners was $98 million. The earnings miss and lower profit may temper the positive revenue and cash-flow figures. Millicom Q3 2026 Earnings: Revenue Beats but EPS Misses

Millicom International Cellular Company Profile

Millicom International Cellular SA is a telecommunications and digital services company operating under the Tigo brand in Latin America. The company provides mobile voice and data services, fixed broadband, pay television, cable connectivity and other communications services to consumers, businesses and government organizations.

Its consumer offerings include wireless plans, home internet, television and digital entertainment services. Through Tigo Money and related financial technology products, Millicom also provides mobile money, digital payments and other financial services in selected markets.

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