JPMorgan Chase & Co. Issues Pessimistic Forecast for United States Cellular (NYSE:USM) Stock Price

United States Cellular (NYSE:USM - Get Free Report) had its price objective reduced by JPMorgan Chase & Co. from $88.00 to $85.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the Wireless communications provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 37.30% from the company's previous close.

USM has been the subject of several other reports. Wall Street Zen raised shares of United States Cellular from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Raymond James reaffirmed an "outperform" rating and set a $78.00 target price (down from $83.00) on shares of United States Cellular in a report on Monday, May 5th.

United States Cellular Stock Performance

NYSE:USM traded up $0.02 during midday trading on Wednesday, hitting $61.91. The company's stock had a trading volume of 147,949 shares, compared to its average volume of 178,043. The firm has a market cap of $5.26 billion, a P/E ratio of -171.97 and a beta of 0.39. United States Cellular has a fifty-two week low of $47.59 and a fifty-two week high of $70.79. The firm's 50 day moving average is $64.85 and its 200-day moving average is $64.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.39.

United States Cellular (NYSE:USM - Get Free Report) last posted its earnings results on Friday, May 2nd. The Wireless communications provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.16). The firm had revenue of $891.00 million for the quarter, compared to analysts' expectations of $924.90 million. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. Equities analysts anticipate that United States Cellular will post 0.57 earnings per share for the current fiscal year.

Institutional Trading of United States Cellular

Large investors have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of United States Cellular during the fourth quarter worth approximately $38,000. Quarry LP purchased a new stake in shares of United States Cellular during the first quarter worth approximately $55,000. Lazard Asset Management LLC boosted its holdings in United States Cellular by 1,837.5% in the fourth quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider's stock valued at $58,000 after purchasing an additional 882 shares in the last quarter. Amundi boosted its holdings in United States Cellular by 17.6% in the fourth quarter. Amundi now owns 1,628 shares of the Wireless communications provider's stock valued at $99,000 after purchasing an additional 244 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in United States Cellular by 37.6% in the fourth quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider's stock valued at $104,000 after purchasing an additional 453 shares in the last quarter. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

About United States Cellular

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.