United States Cellular (NYSE:USM) Shares Gap Down After Earnings Miss

United States Cellular Co. (NYSE:USM - Get Free Report) shares gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $68.85, but opened at $65.20. United States Cellular shares last traded at $65.15, with a volume of 65,089 shares changing hands.

The Wireless communications provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.16). The business had revenue of $891.00 million for the quarter, compared to analyst estimates of $924.90 million. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%.

Wall Street Analysts Forecast Growth

USM has been the topic of several recent research reports. Raymond James restated an "outperform" rating and issued a $78.00 price objective (down from $83.00) on shares of United States Cellular in a research report on Monday. StockNews.com upgraded shares of United States Cellular from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of United States Cellular from $86.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, February 24th.

Institutional Trading of United States Cellular

A number of hedge funds have recently added to or reduced their stakes in USM. R Squared Ltd acquired a new stake in shares of United States Cellular in the fourth quarter worth approximately $38,000. Lazard Asset Management LLC boosted its holdings in shares of United States Cellular by 1,837.5% in the 4th quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider's stock valued at $58,000 after purchasing an additional 882 shares during the last quarter. Amundi grew its stake in shares of United States Cellular by 17.6% during the 4th quarter. Amundi now owns 1,628 shares of the Wireless communications provider's stock valued at $99,000 after buying an additional 244 shares during the period. BNP Paribas Financial Markets increased its holdings 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 buying an additional 453 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of United States Cellular by 1,917.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,219 shares of the Wireless communications provider's stock worth $139,000 after buying an additional 2,109 shares during the period. 18.03% of the stock is owned by institutional investors and hedge funds.

United States Cellular Stock Up 8.4 %

The stock has a fifty day moving average of $66.27 and a two-hundred day moving average of $64.18. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of -175.70 and a beta of 0.39.

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.