United States Cellular (NYSE:USM) Hits New 1-Year High – Here’s What Happened

United States Cellular Co. (NYSE:USM) shares reached a new 52-week high on Thursday . The stock traded as high as $68.31 and last traded at $67.84, with a volume of 12794 shares changing hands. The stock had previously closed at $65.15.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on USM shares. StockNews.com lowered United States Cellular from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company raised their price target on shares of United States Cellular from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday. Finally, Raymond James raised shares of United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a report on Thursday.

United States Cellular Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.39. The firm has a market capitalization of $5.71 billion, a PE ratio of -180.97 and a beta of 0.47. The business’s 50 day moving average is $57.44 and its two-hundred day moving average is $52.74.

United States Cellular (NYSE:USM) last posted its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The company had revenue of $922.00 million during the quarter, compared to the consensus estimate of $940.40 million. During the same period in the previous year, the firm posted $0.26 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts anticipate that United States Cellular Co. will post 0.61 EPS for the current year.

Hedge Funds Weigh In On United States Cellular

Several institutional investors and hedge funds have recently made changes to their positions in USM. Summit Securities Group LLC bought a new stake in United States Cellular during the 2nd quarter valued at $28,000. SG Americas Securities LLC bought a new position in United States Cellular during the second quarter valued at approximately $115,000. Bailard Inc. purchased a new stake in United States Cellular in the second quarter worth approximately $207,000. Invesco LLC purchased a new stake in United States Cellular during the second quarter valued at $214,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of United States Cellular during the 2nd quarter valued at about $218,000. 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.