United States Cellular (NYSE:USM) Trading Down 7.2% After Earnings Miss

United States Cellular Co. (NYSE:USM) fell 7.2% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $34.48 and last traded at $34.58. 417,095 shares changed hands during trading, an increase of 96% from the average session volume of 213,166 shares. The stock had previously closed at $37.26.

The Wireless communications provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.06). United States Cellular had a return on equity of 1.19% and a net margin of 1.41%. The company had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $957.75 million. During the same quarter last year, the company earned $0.15 EPS. United States Cellular’s revenue for the quarter was down 3.7% compared to the same quarter last year.

Institutional Trading of United States Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in United States Cellular by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,166,357 shares of the Wireless communications provider’s stock valued at $89,991,000 after purchasing an additional 104,911 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in United States Cellular during the third quarter worth $51,753,000. Loomis Sayles & Co. L P raised its position in United States Cellular by 101.7% in the third quarter. Loomis Sayles & Co. L P now owns 725,714 shares of the Wireless communications provider’s stock worth $31,184,000 after acquiring an additional 365,863 shares in the last quarter. Third Point LLC acquired a new stake in United States Cellular in the third quarter valued at $23,433,000. Finally, Invesco Ltd. purchased a new stake in shares of United States Cellular during the 3rd quarter worth $11,395,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

United States Cellular Stock Performance

The stock’s 50 day moving average price is $35.51 and its two-hundred day moving average price is $39.75. The company has a current ratio of 1.55, a quick ratio of 1.33 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 50.90 and a beta of 0.45.

United States Cellular Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.