Millicom International Cellular (NASDAQ:TIGO) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Millicom International Cellular (NASDAQ:TIGO) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks reports.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada set a $105.00 price target on Millicom International Cellular in a research note on Tuesday, August 18th. Weiss Ratings raised Millicom International Cellular from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Scotiabank upped their target price on Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered Millicom International Cellular from an “overweight” rating to a “neutral” rating and upped their target price for the company from $100.00 to $105.00 in a research note on Tuesday, August 18th. Finally, UBS Group increased their target price on Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Hold” and an average price target of $85.68.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $79.12 on Wednesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.51 and a current ratio of 0.53. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 19.98 and a beta of 1.00. The company’s 50 day simple moving average is $87.57 and its 200 day simple moving average is $83.17. Millicom International Cellular has a 1 year low of $46.85 and a 1 year high of $107.13.

Millicom International Cellular (NASDAQ:TIGO) 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). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.23 billion. Millicom International Cellular had a return on equity of 18.39% and a net margin of 9.19%. The firm’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. On average, sell-side analysts predict that Millicom International Cellular will post 2.41 EPS for the current year.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Capital Management LLC purchased a new stake in shares of Millicom International Cellular during the 2nd quarter valued at $71,258,000. Renaissance Technologies LLC increased its holdings in shares of Millicom International Cellular by 18.9% during the 1st quarter. Renaissance Technologies LLC now owns 549,792 shares of the technology company’s stock worth $41,201,000 after buying an additional 87,400 shares during the last quarter. Sei Investments Co. raised its position in shares of Millicom International Cellular by 31.7% in the 1st quarter. Sei Investments Co. now owns 546,999 shares of the technology company’s stock worth $40,990,000 after buying an additional 131,580 shares during the period. Amundi raised its position in shares of Millicom International Cellular by 120.8% in the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after buying an additional 289,913 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Millicom International Cellular in the 2nd quarter worth $45,791,000.

More Millicom International Cellular News

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 estimates, while organic revenue growth was 4.8%. Adjusted EBITDA increased 57.7% to $1.09 billion and equity free cash flow rose 27.1% to $316 million. Millicom Q3 2026 Earnings Release
• Positive Sentiment: Leverage declined to 2.53x, including recent acquisitions. Millicom also announced additional $0.75-per-share payments for its January and April 2027 dividends, adding to its quarterly dividend. Millicom Q3 2026 Earnings Release
• Negative Sentiment: Quarterly EPS of $0.58 fell short of the $0.98 consensus estimate. Reports attributed pressure on profit to one-time charges; net profit attributable to owners was $98 million. The earnings shortfall may weigh on sentiment despite the revenue beat. Zacks Q3 Earnings Coverage
• Negative Sentiment: Zacks Research downgraded TIGO from “strong buy” to “hold,” signaling a more cautious view from the research firm. Zacks Research Ratings

About Millicom International Cellular

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.