JPMorgan Chase & Co. Lowers United States Cellular (NYSE:USM) Price Target to $85.00

United States Cellular (NYSE:USM - Get Free Report) had its target price dropped by JPMorgan Chase & Co. from $88.00 to $85.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the Wireless communications provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 35.65% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Raymond James reiterated an "outperform" rating and set a $78.00 price objective (down previously from $83.00) on shares of United States Cellular in a research note on Monday, May 5th. Wall Street Zen raised United States Cellular from a "sell" rating to a "hold" rating in a report on Friday, February 21st.

United States Cellular Price Performance

Shares of USM stock traded down $0.62 during trading hours on Wednesday, reaching $62.66. 33,836 shares of the company were exchanged, compared to its average volume of 189,739. The stock's fifty day moving average is $65.22 and its two-hundred day moving average is $64.18. United States Cellular has a fifty-two week low of $41.25 and a fifty-two week high of $70.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.39. The company has a market cap of $5.33 billion, a price-to-earnings ratio of -174.18 and a beta of 0.39.

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

Institutional Trading of United States Cellular

A number of large investors have recently bought and sold shares of USM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of United States Cellular by 28.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 53,830 shares of the Wireless communications provider's stock valued at $3,722,000 after acquiring an additional 11,861 shares during the last quarter. Aristeia Capital L.L.C. bought a new stake in shares of United States Cellular during the first quarter valued at approximately $239,000. Caxton Associates LLP purchased a new stake in United States Cellular in the first quarter worth about $413,000. Goldman Sachs Group Inc. increased its holdings in shares of United States Cellular by 83.3% during the first quarter. Goldman Sachs Group Inc. now owns 69,598 shares of the Wireless communications provider's stock valued at $4,813,000 after acquiring an additional 31,636 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in United States Cellular by 83.1% during the 1st quarter. Millennium Management LLC now owns 495,473 shares of the Wireless communications provider's stock valued at $34,262,000 after purchasing an additional 224,801 shares during the last quarter. 18.03% of the stock is 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.

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