United States Cellular (NYSE:USM) Earns "Outperform" Rating from Raymond James Financial

Key Points

• Raymond James Financial has reiterated an "outperform" rating for United States Cellular (NYSE:USM), raising the price target to $84.00, reflecting a potential upside of 13.27% from the current price.
• JPMorgan Chase & Co. reduced their price target for the company from $88.00 to $85.00, while maintaining an "overweight" rating.
• United States Cellular's recent quarterly earnings report showed $0.21 earnings per share, missing analyst estimates by $0.16 and reporting revenue of $891 million, below expectations of $924.9 million.
• Institutional investors hold 18.03% of United States Cellular's stock, with several firms increasing their positions significantly in the latest quarters.

Raymond James Financial restated their outperform rating on shares of United States Cellular (NYSE:USM - Free Report) in a research note published on Friday morning,Benzinga reports. They currently have a $84.00 target price on the Wireless communications provider's stock, up from their prior target price of $78.00.

Separately, JPMorgan Chase & Co. lowered their target price on United States Cellular from $88.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th.

United States Cellular Stock Up 3.3%

Shares of USM traded up $2.34 during mid-day trading on Friday, reaching $73.84. The company's stock had a trading volume of 1,142,901 shares, compared to its average volume of 238,501. The business has a fifty day moving average of $64.05 and a 200 day moving average of $64.73. The company has a market cap of $6.28 billion, a price-to-earnings ratio of -160.51 and a beta of 0.35. United States Cellular has a 1 year low of $47.59 and a 1 year high of $76.90. The company has a quick ratio of 1.48, a current ratio of 1.70 and a debt-to-equity ratio of 0.62.

United States Cellular (NYSE:USM - Get Free Report) last released its earnings results on Friday, May 2nd. The Wireless communications provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.16). United States Cellular had a negative net margin of 1.05% and a positive return on equity of 1.36%. The business had revenue of $891.00 million during the quarter, compared to analysts' expectations of $924.90 million. As a group, analysts forecast that United States Cellular will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United States Cellular

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of United States Cellular during the 1st quarter worth about $55,000. Lazard Asset Management LLC raised its stake in shares of United States Cellular by 1,837.5% during the 4th quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider's stock worth $58,000 after purchasing an additional 882 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of United States Cellular by 37.6% during the 4th quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider's stock worth $104,000 after purchasing an additional 453 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of United States Cellular in the 1st quarter valued at $176,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of United States Cellular in the 1st quarter valued at $195,000. 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.