Millicom International Cellular (NASDAQ:TIGO) Shares Down 6.4% - Here's Why

Key Points

• Shares fell 6.4% midday to about $52.99 (intraday low $52.81) on ~1.36M shares traded, roughly 24% above the stock's average daily volume after a prior close of $56.60.
• The company missed quarterly EPS, reporting $0.34 versus analysts' $0.55 estimate, while revenue was roughly in line at $1.42 billion and down 0.8% year‑over‑year.
• Analysts are mixed: MarketBeat shows a consensus "Moderate Buy" with a target of $43.47 (below the current price), though some firms raised targets — JPMorgan lifted its target to $63 — and ratings range from Strong Buy to Hold.

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) shares were down 6.4% during mid-day trading on Wednesday . The company traded as low as $52.81 and last traded at $52.9850. Approximately 1,359,344 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 1,096,536 shares. The stock had previously closed at $56.60.

Analyst Ratings Changes

TIGO has been the topic of a number of research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. UBS Group lowered shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and increased their price objective for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. Scotiabank lifted their target price on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a "sector perform" rating in a report on Friday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, November 17th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.47.

Millicom International Cellular Stock Down 9.1%

The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 7.88 and a beta of 0.94. The firm's 50 day simple moving average is $52.09 and its two-hundred day simple moving average is $46.98.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. The business's revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently bought and sold shares of TIGO. Meritage Portfolio Management acquired a new position in shares of Millicom International Cellular in the second quarter valued at approximately $5,321,000. Militia Capital Partners LP bought a new stake in Millicom International Cellular during the 1st quarter worth approximately $908,000. Itau Unibanco Holding S.A. grew its holdings in Millicom International Cellular by 52.7% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 703,267 shares of the technology company's stock worth $26,351,000 after acquiring an additional 242,569 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in Millicom International Cellular in the 2nd quarter valued at approximately $1,850,000. Finally, Franklin Resources Inc. bought a new position in shares of Millicom International Cellular during the second quarter valued at $1,293,000.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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