JPMorgan Chase & Co. Increases United States Cellular (NYSE:USM) Price Target to $69.00

United States Cellular (NYSE:USMGet Free Report) had its price target increased by stock analysts at JPMorgan Chase & Co. from $51.00 to $69.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 36.15% from the company’s current price.

United States Cellular Price Performance

USM stock opened at $50.68 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.46. The firm has a market capitalization of $4.31 billion, a P/E ratio of 72.00 and a beta of 0.45. The business’s 50-day moving average is $38.46 and its two-hundred day moving average is $39.85. United States Cellular has a 1 year low of $13.79 and a 1 year high of $51.00.

United States Cellular (NYSE:USMGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.06). The company had revenue of $950.00 million during the quarter, compared to analyst estimates of $957.75 million. United States Cellular had a net margin of 1.55% and a return on equity of 1.30%. United States Cellular’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS. Analysts anticipate that United States Cellular will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United States Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in USM. Jericho Capital Asset Management L.P. acquired a new stake in shares of United States Cellular during the 3rd quarter worth about $51,753,000. Third Point LLC purchased a new position in United States Cellular during the 3rd quarter worth approximately $23,433,000. Loomis Sayles & Co. L P grew its stake in United States Cellular by 101.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 725,714 shares of the Wireless communications provider’s stock worth $31,184,000 after buying an additional 365,863 shares during the last quarter. Invesco Ltd. purchased a new position in United States Cellular during the 3rd quarter worth approximately $11,395,000. Finally, FMR LLC grew its stake in United States Cellular by 289.6% during the 3rd quarter. FMR LLC now owns 250,473 shares of the Wireless communications provider’s stock worth $10,763,000 after buying an additional 186,183 shares during the last quarter. Institutional investors and hedge funds own 18.03% of the company’s stock.

United States Cellular Company Profile

(Get Free Report)

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.

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