United States Cellular (NYSE:USM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

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

United States Cellular Stock Performance

NYSE:USM opened at $64.62 on Monday. The company has a market capitalization of $5.56 billion, a P/E ratio of -179.49 and a beta of 0.47. The business has a fifty day simple moving average of $57.63 and a two-hundred day simple moving average of $52.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.39. United States Cellular has a 1 year low of $32.01 and a 1 year high of $68.31.

United States Cellular (NYSE:USM) last announced 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%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. On average, analysts expect that United States Cellular will post 0.61 earnings per share for the current year.

Institutional Inflows and Outflows

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