United States Cellular (NYSE:USM) Stock Price Up 9.5% Following Analyst Upgrade

United States Cellular Co. (NYSE:USMGet Free Report)’s stock price was up 9.5% during mid-day trading on Thursday after Wells Fargo & Company upgraded the stock from an equal weight rating to an overweight rating. Wells Fargo & Company now has a $75.00 price target on the stock, up from their previous price target of $38.00. United States Cellular traded as high as $48.56 and last traded at $48.37. Approximately 228,223 shares changed hands during trading, a decline of 16% from the average daily volume of 273,157 shares. The stock had previously closed at $44.19.

Separately, JPMorgan Chase & Co. boosted their price target on United States Cellular from $51.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday.

Check Out Our Latest Analysis on USM

Hedge Funds Weigh In On United States Cellular

A number of large investors have recently made changes to their positions in USM. Trexquant Investment LP increased its position in shares of United States Cellular by 7.2% in the 4th quarter. Trexquant Investment LP now owns 12,598 shares of the Wireless communications provider’s stock valued at $523,000 after acquiring an additional 850 shares during the period. Quest Partners LLC purchased a new stake in shares of United States Cellular during the 4th quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of United States Cellular by 32.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,580 shares of the Wireless communications provider’s stock worth $190,000 after acquiring an additional 1,117 shares in the last quarter. Clear Street Markets LLC purchased a new position in United States Cellular in the 4th quarter valued at about $105,000. Finally, Bfsg LLC purchased a new position in United States Cellular in the 4th quarter valued at about $137,000. 18.03% of the stock is owned by institutional investors and hedge funds.

United States Cellular Stock Performance

The company has a market cap of $4.31 billion, a price-to-earnings ratio of 72.00 and a beta of 0.45. The company has a current ratio of 1.67, a quick ratio of 1.46 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $38.46 and its 200 day simple moving average is $39.85.

United States Cellular (NYSE:USMGet Free Report) last announced 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 firm had revenue of $950.00 million for the quarter, compared to analyst estimates of $957.75 million. United States Cellular had a return on equity of 1.30% and a net margin of 1.55%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. As a group, analysts anticipate that United States Cellular Co. will post 0.58 earnings per share for the current year.

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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