United States Cellular (NYSE:USM) Issues Earnings Results

Key Points

• United States Cellular reported earnings of $0.36 per share, surpassing analyst expectations of $0.33, with quarterly revenue reaching $916.00 million, exceeding estimates of $907.73 million.
• Shares of United States Cellular increased 3.5% during midday trading, closing at $76.87, with a market capitalization of $6.53 billion.
• Upcoming price targets for the stock have been adjusted, with Raymond James setting a target of $84.00, reflecting a positive outlook on United States Cellular's performance.

United States Cellular (NYSE:USM - Get Free Report) announced its quarterly earnings data on Monday. The Wireless communications provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03, Zacks reports. United States Cellular had a positive return on equity of 1.68% and a negative net margin of 0.68%. The firm had revenue of $916.00 million during the quarter, compared to analysts' expectations of $907.73 million.

United States Cellular Stock Performance

Shares of United States Cellular stock traded up $3.63 during trading hours on Friday, reaching $77.88. The company had a trading volume of 1,000,445 shares, compared to its average volume of 467,326. United States Cellular has a one year low of $51.20 and a one year high of $79.17. The business has a fifty day simple moving average of $67.87 and a 200 day simple moving average of $65.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.70 and a quick ratio of 1.48. The firm has a market cap of $6.62 billion, a PE ratio of -259.59 and a beta of 0.38.

United States Cellular Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Monday, August 11th will be issued a dividend of $23.00 per share. This is a positive change from United States Cellular's previous special dividend of $0.06. The ex-dividend date of this dividend is Wednesday, August 20th.

Hedge Funds Weigh In On United States Cellular

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in United States Cellular by 231.8% during the second quarter. BNP Paribas Financial Markets now owns 740 shares of the Wireless communications provider's stock valued at $47,000 after buying an additional 517 shares during the period. Tower Research Capital LLC TRC increased its holdings in United States Cellular by 73.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 872 shares of the Wireless communications provider's stock valued at $56,000 after purchasing an additional 368 shares during the period. Lazard Asset Management LLC increased its holdings in United States Cellular by 263.8% during the 2nd quarter. Lazard Asset Management LLC now owns 3,063 shares of the Wireless communications provider's stock valued at $195,000 after purchasing an additional 2,221 shares during the period. AQR Capital Management LLC bought a new stake in United States Cellular during the 1st quarter valued at approximately $235,000. Finally, Brevan Howard Capital Management LP bought a new stake in United States Cellular during the 2nd quarter valued at approximately $336,000. 18.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on USM shares. JPMorgan Chase & Co. upped their target price on United States Cellular from $85.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday. Raymond James Financial reissued an "outperform" rating and issued a $84.00 price objective (up from $78.00) on shares of United States Cellular in a research note on Friday, July 25th.

United States Cellular Company Profile

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.