United States Cellular (NYSE:USM) Trading Down 6.3% Following Weak Earnings

United States Cellular Co. (NYSE:USM - Get Free Report)'s share price was down 6.3% during trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $59.30 and last traded at $59.13. Approximately 211,704 shares traded hands during mid-day 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 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 0.79% and a positive return on equity of 1.55%. The business had revenue of $891.00 million for the quarter, compared to analysts' expectations of $924.90 million.

Wall Street Analyst Weigh In

Several analysts recently weighed in on USM shares. Raymond James restated an "outperform" rating and set a $78.00 price target (down previously from $83.00) on shares of United States Cellular in a report on Monday. JPMorgan Chase & Co. boosted their target price on United States Cellular from $86.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, StockNews.com upgraded United States Cellular from a "sell" rating to a "hold" rating in a report on Friday, February 21st.

Institutional Trading of United States Cellular

A number of institutional investors have recently bought and sold shares of USM. Amundi raised its stake in shares of United States Cellular by 17.6% in the fourth quarter. Amundi now owns 1,628 shares of the Wireless communications provider's stock worth $99,000 after purchasing an additional 244 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of United States Cellular by 1.4% in the 1st quarter. Central Pacific Bank Trust Division now owns 21,900 shares of the Wireless communications provider's stock valued at $1,514,000 after acquiring an additional 300 shares during the last quarter. Swiss National Bank increased its stake in shares of United States Cellular by 1.3% in the fourth quarter. Swiss National Bank now owns 31,300 shares of the Wireless communications provider's stock worth $1,963,000 after acquiring an additional 400 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of United States Cellular by 37.6% during the fourth 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 during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in United States Cellular by 9.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 7,260 shares of the Wireless communications provider's stock valued at $454,000 after purchasing an additional 609 shares during the period. 18.03% of the stock is currently owned by institutional investors and hedge funds.

United States Cellular Stock Performance

The firm's fifty day simple moving average is $66.41 and its 200 day simple moving average is $64.21. The company has a market capitalization of $5.02 billion, a PE ratio of -163.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.39.

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.

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