Millicom International Cellular (NASDAQ:TIGO) Shares Down 6.5% – What’s Next?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) were down 6.5% on Friday . The stock traded as low as $97.61 and last traded at $97.4790. 682,927 shares traded hands during trading, a decline of 56% from the average daily volume of 1,535,384 shares. The stock had previously closed at $104.31.

Millicom International Cellular News Roundup

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

• Positive Sentiment: Millicom reported Q2 revenue of approximately $2.18 billion, up 59.4% year over year and ahead of the $2.13 billion analyst estimate. First-half revenue increased 52%, largely reflecting the contribution from Latin American acquisitions. Millicom Revenue Jumps 52% in H1 2026 on Latin American Acquisitions
• Positive Sentiment: The company raised its 2026 equity free cash flow target and lowered its expected year-end leverage target, signaling stronger cash generation and progress toward balance-sheet improvement. It also declared a $1.50-per-share interim dividend, enhancing shareholder returns. Millicom Raises 2026 Financial Guidance and Declares Dividend
• Positive Sentiment: Adjusted quarterly earnings of $0.64 per share exceeded the Zacks consensus estimate of $0.54 and improved from $0.51 a year earlier under that measure. Management’s earnings presentation and call highlighted the company’s operating momentum following its regional expansion. Millicom Beats Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Reported EPS was described inconsistently across coverage: one report compared $0.64 with a $0.71 consensus, while another cited a $0.54 estimate. This suggests investors may focus more heavily on revenue growth, cash flow and guidance than on the headline EPS comparison. Millicom Q2 Earnings Report
• Negative Sentiment: Millicom continues to carry significant financial leverage, with debt-to-equity of 2.33 and current and quick ratios below 1.00. Acquisition-related growth could therefore leave the company sensitive to interest costs, integration challenges and currency conditions in Latin America.

Analyst Ratings Changes

A number of analysts recently issued reports on TIGO shares. Scotiabank increased their target price on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. increased their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Finally, UBS Group upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.28.

Millicom International Cellular Stock Down 7.4%

The firm’s 50 day simple moving average is $91.92 and its 200-day simple moving average is $80.37. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 13.13 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. Equities analysts expect that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, the insider owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 50,140 shares of company stock valued at $4,425,461. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Millicom International Cellular by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after buying an additional 139 shares in the last quarter. EWA LLC raised its position in Millicom International Cellular by 2.5% during the fourth quarter. EWA LLC now owns 7,025 shares of the technology company’s stock valued at $389,000 after purchasing an additional 169 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in 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 purchasing an additional 170 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Millicom International Cellular by 2.3% in the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after purchasing an additional 254 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Millicom International Cellular by 896.7% during the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after purchasing an additional 269 shares during the last quarter.

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.