United States Cellular (NYSE:USM) Stock Price Down 6.3% on Disappointing Earnings

United States Cellular Co. (NYSE:USM - Get Free Report)'s share price dropped 6.3% on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $59.30 and last traded at $59.13. Approximately 211,704 shares were traded during trading, an increase of 23% from the average daily volume of 171,567 shares. The stock had previously closed at $63.07.

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

Analyst Ratings Changes

USM has been the topic of several analyst reports. Raymond James reiterated an "outperform" rating and issued a $78.00 price objective (down previously from $83.00) on shares of United States Cellular in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target on United States Cellular from $86.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Finally, StockNews.com raised United States Cellular from a "sell" rating to a "hold" rating in a research note on Friday, February 21st.

Institutional Trading of United States Cellular

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in United States Cellular by 9.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 188,880 shares of the Wireless communications provider's stock valued at $13,061,000 after purchasing an additional 15,932 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of United States Cellular by 100.0% during the first quarter. Atria Wealth Solutions Inc. now owns 14,000 shares of the Wireless communications provider's stock valued at $968,000 after buying an additional 7,000 shares during the period. Mackenzie Financial Corp bought a new position in shares of United States Cellular during the first quarter valued at approximately $320,000. Private Management Group Inc. bought a new position in shares of United States Cellular during the first quarter valued at approximately $211,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in United States Cellular in the first quarter worth $394,000. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

United States Cellular Trading Up 0.8 %

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 firm's fifty day moving average is $66.13 and its two-hundred day moving average is $64.24. The firm has a market cap of $5.38 billion, a P/E ratio of -175.69 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.