United States Cellular (NYSE:USM) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of United States Cellular Co. (NYSE:USM) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $58.06 and traded as high as $61.00. United States Cellular shares last traded at $60.87, with a volume of 118,384 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Raymond James raised United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Thursday, November 7th. StockNews.com raised United States Cellular from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company lifted their price target on United States Cellular from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th.

United States Cellular Trading Down 0.3 %

The company has a market capitalization of $5.23 billion, a P/E ratio of -169.08 and a beta of 0.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.57. The company has a 50-day simple moving average of $62.57 and a 200 day simple moving average of $58.15.

United States Cellular (NYSE:USM) last released its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.13. The business had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $940.40 million. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%. United States Cellular’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Sell-side analysts expect that United States Cellular Co. will post 0.57 earnings per share for the current year.

Institutional Trading of United States Cellular

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in United States Cellular by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,323 shares of the Wireless communications provider’s stock valued at $128,349,000 after buying an additional 72,843 shares in the last quarter. Gabelli Funds LLC boosted its stake in United States Cellular by 3.2% in the second quarter. Gabelli Funds LLC now owns 680,300 shares of the Wireless communications provider’s stock worth $37,974,000 after purchasing an additional 20,785 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in United States Cellular in the second quarter worth $22,394,000. American Century Companies Inc. boosted its stake in United States Cellular by 8.7% in the second quarter. American Century Companies Inc. now owns 327,931 shares of the Wireless communications provider’s stock worth $18,305,000 after purchasing an additional 26,369 shares in the last quarter. Finally, FMR LLC boosted its stake in United States Cellular by 3.5% in the third quarter. FMR LLC now owns 247,985 shares of the Wireless communications provider’s stock worth $13,552,000 after purchasing an additional 8,416 shares in the last quarter. 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.