United States Cellular (NYSE:USM) Price Target Raised to $87.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has increased its price target for United States Cellular from $85.00 to $87.00, indicating a potential upside of 11.71% from the last close.
• United States Cellular's stock rose by 4.9%, reaching $77.88 during trading, with a market capitalization of $6.62 billion.
• Raymond James Financial also raised its price target to $84.00, up from $78.00, and reiterated an "outperform" rating for the company's shares.

United States Cellular (NYSE:USM - Get Free Report) had its price target upped by research analysts at JPMorgan Chase & Co. from $85.00 to $87.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the Wireless communications provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 11.71% from the stock's previous close.

Separately, Raymond James Financial restated 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 Stock Up 4.9%

Shares of United States Cellular stock traded up $3.63 during trading on Tuesday, hitting $77.88. 1,000,445 shares of the stock were exchanged, compared to its average volume of 434,944. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of -169.30 and a beta of 0.38. The firm's 50-day moving average price is $66.62 and its 200 day moving average price is $65.58. United States Cellular has a 12-month low of $51.20 and a 12-month high of $79.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.70 and a quick ratio of 1.48.

United States Cellular (NYSE:USM - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. United States Cellular had a negative net margin of 1.05% and a positive return on equity of 1.36%. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $907.73 million. As a group, analysts forecast that United States Cellular will post 0.57 earnings per share for the current fiscal year.

Institutional Trading of United States Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in shares of United States Cellular by 1.8% in the second quarter. Legal & General Group Plc now owns 15,170 shares of the Wireless communications provider's stock valued at $970,000 after acquiring an additional 269 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of United States Cellular by 9.5% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,244 shares of the Wireless communications provider's stock valued at $399,000 after acquiring an additional 544 shares in the last quarter. Creative Planning boosted its holdings in shares of United States Cellular by 21.7% in the second quarter. Creative Planning now owns 7,985 shares of the Wireless communications provider's stock valued at $511,000 after acquiring an additional 1,424 shares in the last quarter. Geode Capital Management LLC boosted its holdings in United States Cellular by 3.3% during the second quarter. Geode Capital Management LLC now owns 182,499 shares of the Wireless communications provider's stock worth $11,677,000 after buying an additional 5,846 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in United States Cellular by 101.8% during the second quarter. AlphaQuest LLC now owns 6,258 shares of the Wireless communications provider's stock worth $400,000 after buying an additional 3,157 shares in the last quarter. Hedge funds and other institutional investors own 18.03% of the company's stock.

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.

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