United States Cellular (NYSE:USM) Given New $87.00 Price Target 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 objective raised by investment analysts at JPMorgan Chase & Co. from $85.00 to $87.00 in a research report issued to clients and investors 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 reiterated an "outperform" rating and set a $84.00 price target (up from $78.00) on shares of United States Cellular in a research note on Friday, July 25th.

United States Cellular Price Performance

The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of -259.59 and a beta of 0.38. 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 current ratio of 1.70, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62.

United States Cellular (NYSE:USM - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $907.73 million. United States Cellular had a negative net margin of 0.68% and a positive return on equity of 1.68%. Sell-side analysts anticipate that United States Cellular will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On United States Cellular

A number of institutional investors and hedge funds have recently made changes to their positions in USM. BNP Paribas Financial Markets grew its position in shares of 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 worth $47,000 after buying an additional 517 shares in the last quarter. Quarry LP acquired a new position in shares of United States Cellular during the first quarter worth about $55,000. Tower Research Capital LLC TRC grew its position in shares of United States Cellular by 73.0% during the second quarter. Tower Research Capital LLC TRC now owns 872 shares of the Wireless communications provider's stock worth $56,000 after buying an additional 368 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of United States Cellular by 1,837.5% during the fourth quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider's stock worth $58,000 after buying an additional 882 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of United States Cellular during the first quarter worth about $176,000. 18.03% of the stock is owned by institutional investors and hedge funds.

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.