Millicom stock holds above $90 as analysts see limited upside

Millicom International Cellular (ISIN SE0001174970) stock is quoted at $93.68 as of August 23, 2026, giving the telecom operator a market capitalization of $15.83 billion according to a recent market-data overview. The same data set shows a 52-week trading range between $44.88 and $107.13, underlining how far the shares have climbed over the past year.

Analysts see modest downside from current levels

A consolidated analyst overview indicates that the consensus 12-month price target for Millicom currently stands at $85.68, which is 8.5% below the spot price of $93.68 referenced on August 23, 2026 Millicom stock data and analyst consensus overview. That same source assigns the company an average rating score of 2.43 on a 1 to 5 scale, corresponding to an overall Hold consensus based on a mix of buy, hold, and sell recommendations.

The market-data snapshot also shows that Millicom shares trade at a price-to-earnings ratio of 23.66, compared with a broader market average multiple of 45.45 reported in the same overview Valuation metrics and P-E comparison for Millicom stock. For investors, this implies that the stock changes hands at roughly half the market-wide earnings multiple even as the absolute share price sits close to the upper half of its 52-week corridor.

Earnings growth expectations and recent results

Forward-looking estimates compiled in the same analyst summary point to earnings per share rising from $2.41 to $4.34 over the coming year, implying expected EPS growth of 80.08% on this basis Millicom earnings expectations and growth outlook. The company is also credited with a trailing twelve-month return on equity of 18.39%, suggesting that recent profitability has been solid in relation to shareholder capital.

In the most recently cited quarterly report within that overview, Millicom delivered earnings per share of $0.97, ahead of the consensus estimate of $0.89, for a beat of $0.08 in that quarter Quarterly earnings summary for Millicom stock. Revenue for the same quarter was reported at $1.99 billion, matching the $1.99 billion level anticipated by analysts in that period.

Dividend and income profile

The same market-data source notes a dividend yield of 3.20% for Millicom as of the latest pricing snapshot, based on the indicated payout and the share price of $93.68 Dividend yield and income profile for Millicom stock. For income-focused investors, this places the stock in a moderate-yield bracket among telecom and cable peers.

Tigo mobile and broadband services

Millicom operates under the Tigo brand in its core Latin American markets, offering a combination of mobile voice, data, fixed broadband, and digital television services. The company positions its mobile and broadband bundles as a way to deepen customer relationships and drive average revenue per user in countries where smartphone adoption and data usage continue to rise.

Millicom stock valuation context

As of the late-August 2026 quote, Millicom stock at $93.68 trades comfortably within its 52-week range of $44.88 to $107.13, while the consensus price target of $85.68 highlights limited upside and even some projected downside relative to the current level Price range and target comparison for Millicom stock. With a market capitalization of $15.83 billion and a P-E ratio of 23.66 against expectations for EPS to grow from $2.41 to $4.34, the stock combines moderate valuation with strong forecast growth.

Fact box

Company: Millicom International Cellular S.A.
ISIN: SE0001174970
Ticker: TIGO
Exchange: Nasdaq (United States)
Price (as of August 23, 2026): $93.68 USD
Market cap: $15.83 billion (as of August 23, 2026)
Sector / Industry: Telecommunications / Cable and broadband