Bank of Nova Scotia Makes New Investment in T-Mobile US, Inc. $TMUS

Key Points

• Bank of Nova Scotia bought 296,063 T-Mobile US shares during the second quarter, worth approximately $49.7 million. Institutional investors collectively own 42.49% of the company.
• T-Mobile reported quarterly EPS of $2.99, beating estimates by $0.40, while revenue increased 7.9% year over year to $22.79 billion. The company also declared a $1.02 quarterly dividend, yielding 2.2% annually.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $252.08 price target, despite several firms recently lowering their targets.

Bank of Nova Scotia purchased a new position in shares of T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 296,063 shares of the Wireless communications provider's stock, valued at approximately $49,659,000.

Other large investors also recently bought and sold shares of the company. Main Street Group LTD purchased a new stake in shares of T-Mobile US in the first quarter valued at approximately $25,000. JDM Financial Group LLC boosted its stake in T-Mobile US by 114.0% during the fourth quarter. JDM Financial Group LLC now owns 122 shares of the Wireless communications provider's stock worth $25,000 after buying an additional 65 shares during the last quarter. Swiss RE Ltd. acquired a new position in T-Mobile US during the fourth quarter worth $29,000. Paladin Partners LLC purchased a new stake in T-Mobile US in the 2nd quarter valued at $25,000. Finally, Turning Point Benefit Group Inc. grew its holdings in T-Mobile US by 3,825.0% in the 4th quarter. Turning Point Benefit Group Inc. now owns 157 shares of the Wireless communications provider's stock valued at $32,000 after buying an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 42.49% of the company's stock.

T-Mobile US Stock Performance

Shares of TMUS stock opened at $183.04 on Monday. T-Mobile US, Inc. has a 1-year low of $165.66 and a 1-year high of $261.25. The firm has a market cap of $196.34 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.03 and a beta of 0.33. The company has a 50-day moving average of $181.42 and a two-hundred day moving average of $193.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.92 and a quick ratio of 0.83.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last posted its earnings results on Thursday, July 23rd. The Wireless communications provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.40. T-Mobile US had a net margin of 11.45% and a return on equity of 20.16%. The firm had revenue of $22.79 billion during the quarter, compared to the consensus estimate of $22.95 billion. During the same quarter last year, the firm earned $2.84 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that T-Mobile US, Inc. will post 10.73 EPS for the current year.

T-Mobile US Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 28th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $4.08 annualized dividend and a yield of 2.2%. T-Mobile US's dividend payout ratio is presently 42.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TMUS shares. Wall Street Zen upgraded T-Mobile US from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Scotiabank dropped their price objective on shares of T-Mobile US from $263.00 to $243.00 and set a "sector outperform" rating for the company in a report on Wednesday, July 15th. Bank of America upgraded shares of T-Mobile US from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a research report on Monday, July 6th. Morgan Stanley decreased their target price on shares of T-Mobile US from $260.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Finally, KeyCorp dropped their price target on shares of T-Mobile US from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.08.

About T-Mobile US

T-Mobile US is a national wireless carrier that provides mobile voice, messaging and data services to consumers, businesses and wholesale customers across the United States, Puerto Rico and the U.S. Virgin Islands. The company operates a nationwide mobile network and offers device sales, equipment financing and support services through retail stores, online channels and distribution partners. T-Mobile positions its products around bundled service plans, device offerings and value-added features for both individual and enterprise customers.

Product offerings include postpaid and prepaid wireless plans under the T-Mobile and Metro by T-Mobile brands, as well as connectivity solutions for small and large businesses.

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