Cellnex published third-quarter consensus: Cellnex stock falls 1.31 percent

Published on 10/26/2026 at 09:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cellnex stock costs EUR 25.66 on October 26, 2026, 1.31 percent below its EUR 26.00 Xetra close. Third-quarter revenue consensus is EUR 1,015 million.

Forecast and valuation frame

Cellnex published a third-quarter consensus forecast on October 22, 2026, including EUR 1,015 million in revenue.
Jefferies cut its target from EUR 36.00 to EUR 34.00 on October 20, 2026.
Cellnex stock trades at EUR 25.66 at 9:22 a.m. CET at Lang & Schwarz on October 26, 2026, 1.31 percent below the Xetra close of October 23, 2026.
Cellnex is scheduled to report its first nine months of 2026 on November 5, 2026.

Cellnex, ES0105066007, Illustration mit AI erstellt.

Cellnex Telecom (ISIN ES0105066007) was trading at EUR 25.66 at Lang & Schwarz on October 26, 2026, at 9:22 a.m. CET, down 1.31 percent versus the Xetra close of October 23, 2026. On October 22, 2026, Cellnex published a third-quarter consensus forecast that put median revenue at EUR 1,015 million, according to Cellnex.

Forecast sets the next test

The company survey also placed adjusted EBITDA at EUR 860 million, EBITDAaL at EUR 655 million, recurring levered free cash flow at EUR 473 million and free cash flow at EUR 162 million for the third quarter of 2026. These figures give investors a clear operating frame before the report, with revenue growth and cash conversion carrying more weight than the headline sales number.

Three target changes mark the path

On October 15, 2026, Barclays maintained a Buy rating and set a EUR 38.00 target, as reported by Business Insider. On October 20, 2026, Jefferies cut its target from EUR 36.00 to EUR 34.00 while retaining its Buy recommendation, according to Bolsamania. On October 22, 2026, Cellnex published the EUR 1,015 million revenue consensus and the EUR 860 million adjusted EBITDA median in its forecast document.

What does the forecast mean for cash flow?

The EUR 473 million recurring levered free cash flow median and EUR 162 million free cash flow median make cash generation the key comparison for the third quarter of 2026. Renta 4 separately forecast EUR 451 million of free cash flow for the first nine months of 2026, versus EUR 187 million a year earlier, and retained a EUR 43.30 target, according to Capitalbolsa.

Results date is November 5

Cellnex is scheduled to publish its first nine months of 2026 on November 5, 2026, after the market close, followed by an analyst conference at 6:30 p.m. CET, according to Capitalbolsa. The combination of the revenue forecast, cash-flow expectations and target revisions leaves execution and debt reduction as the central valuation questions.

Stock trades below the Xetra close

Cellnex stock was trading at EUR 25.66 at Lang & Schwarz on October 26, 2026, at 9:22 a.m. CET, 1.31 percent below the Xetra close of October 23, 2026, at EUR 26.00. The stock's market capitalization was EUR 16.9 billion, while its 52-week range was EUR 21.84 to EUR 32.71 as of October 26, 2026. The further course of trading is shown by the continuously updated real-time quote of Cellnex stock.