Millicom stock holds steady ahead of November earnings

Millicom International Cellular S.A. (ISIN SE0001174970) stock is trading at 94.26 USD on Nasdaq as of September 21, 2026, unchanged from the previous close and sitting well above its 52-week low of 44.88 USD but below the 52-week high of 107.13 USD per data compiled by Investing.com.

Stock price consolidates before next earnings

According to Investing.com on September 21, 2026, Millicom (ticker TIGO) is listed on Nasdaq in USD and last traded at 94.26 USD, with the same level recorded as the previous close.

On the prior completed trading day, September 18, 2026, Millicom stock also closed at 94.26 USD, moving between an intraday low of 93.00 USD and a high of 95.40 USD, while remaining within a 52-week range of 44.88 USD to 107.13 USD as summarized by Investing.com data cited in an earlier market wrap.

Latest reported figures from Q2 2026

In its most recent quarterly update for Q2 2026, Millicom reported revenue of 1.49 billion USD for the three-month period, compared with 1.42 billion USD in Q2 2025, marking an increase of about 4.9 percent year on year according to company figures published on its investors site, which can be accessed via Millicom.

The same Q2 2026 release stated that operating profit reached 230 million USD, up from 215 million USD in Q2 2025, with the operating margin improving from 15.1 percent to 15.4 percent, highlighting gradual efficiency gains in the group’s Latin American operations according to the figures presented by Millicom on its investors page.

Guidance and outlook into year-end 2026

For fiscal year 2026, Millicom has guided for mid-single-digit revenue growth and a continued focus on reducing leverage, with management reiterating its target of lowering net debt to EBITDA to around 2.5 times by the end of the year, as outlined in its Q2 2026 presentation available through the investors section of Millicom.

Compared with the leverage level of roughly 2.8 times net debt to EBITDA reported for fiscal year 2025, the planned reduction suggests incremental balance-sheet strengthening, which many investors watch closely given the company’s historical investment cycle in cable and mobile infrastructure in its core markets.

Analyst expectations and valuation context

The average 12-month price target for Millicom stands at 98.39 USD, with individual analyst estimates ranging from 60.10 USD on the low side to 132.00 USD on the high side, according to the overview provided by Investing.com as of September 21, 2026.

With the current share price of 94.26 USD sitting about 4.2 percent below that average target and roughly 11.9 percent under the 52-week high of 107.13 USD, the stock trades in the middle of its recent valuation range, leaving room on both sides for a potential move once the next set of earnings data is published.

Next earnings date and investor focus

According to the earnings calendar compiled by Investing.com, Millicom is scheduled to release its next quarterly earnings report on November 4, 2026, which will cover Q3 2026 and provide fresh detail on revenue trends, margins and progress toward leverage targets.

For investors, that November 4, 2026 checkpoint will be crucial to see whether the Q2 2026 growth rate of 4.9 percent year-on-year in revenue can be maintained or improved, and whether operating margin expansion from 15.1 percent to 15.4 percent continues given the company’s focus on cost discipline.

Millicom stock level as of September 21, 2026

As of September 21, 2026, Millicom stock trades at 94.26 USD on Nasdaq, with the last completed session on September 18, 2026 showing an unchanged close versus the previous day and a trading range between 93.00 USD and 95.40 USD; this level places the shares comfortably above the 52-week low of 44.88 USD but still below the 52-week high of 107.13 USD in USD terms.

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