United States Cellular (NYSE:USM) Price Target Raised to $85.00

United States Cellular (NYSE:USM) had its target price upped by Wells Fargo & Company from $75.00 to $85.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the Wireless communications provider’s stock.

United States Cellular Stock Performance

Shares of USM stock opened at $65.15 on Monday. 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 business has a 50 day moving average of $57.44 and a two-hundred day moving average of $52.74. The company has a market cap of $5.60 billion, a P/E ratio of -180.97 and a beta of 0.47. United States Cellular has a 52 week low of $32.01 and a 52 week high of $67.84.

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

Institutional Investors Weigh In On United States Cellular

A number of hedge funds and other institutional investors have recently modified their holdings of USM. Summit Securities Group LLC acquired a new stake in shares of United States Cellular in the 2nd quarter worth approximately $28,000. SG Americas Securities LLC bought a new position in United States Cellular during the second quarter valued at about $115,000. Bailard Inc. acquired a new position in shares of United States Cellular in the 2nd quarter worth approximately $207,000. Invesco LLC bought a new stake in shares of United States Cellular in the 2nd quarter worth approximately $214,000. Finally, The Manufacturers Life Insurance Company bought a new stake in United States Cellular during the second quarter worth approximately $218,000. 18.03% of the stock is currently owned by institutional investors.

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.