United States Cellular Corporation (USM) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of United States Cellular Corporation (NYSE:USM) from a strong-buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “U.S. Cellular posted mixed third-quarter 2017 results with massive subscriber gain. We believe the company’s succeeded in subscriber additions and churn management on the back of numerous strategic moves like introduction of a new billing system, continuous rollout of 4G LTE, enhancement of LTE handsets, completion of various spectrum transactions and monetization of non-strategic assets, to achieve its target. U.S. Cellular is optimistic about the growing demand for smartphones, which enjoy significant market penetration, supporting growth in data revenues. However, we remain concerned about the company’s operation in an intensely competitive and consolidated wireless market. Costs associated with network integration and construction of cell sites, aggressive pricing by larger rivals and fall in service revenues are other major risks. Over the past three months, the stock price underperformed its industry's loss.”
Separately, BidaskClub upgraded shares of United States Cellular Corporation from a sell rating to a hold rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $36.67.
United States Cellular Corporation (USM) traded up $1.61 during mid-day trading on Tuesday, reaching $34.65. 134,600 shares of the company were exchanged, compared to its average volume of 101,834. The firm has a market cap of $2,950.00, a PE ratio of 84.72 and a beta of 0.71. United States Cellular Corporation has a twelve month low of $32.29 and a twelve month high of $46.01. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.23.
United States Cellular Corporation (NYSE:USM) last released its quarterly earnings data on Wednesday, November 8th. The Wireless communications provider reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.10. The business had revenue of $963.00 million during the quarter, compared to analysts’ expectations of $968.80 million. United States Cellular Corporation had a negative net margin of 6.93% and a positive return on equity of 0.94%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. analysts predict that United States Cellular Corporation will post -3.18 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quinn Opportunity Partners LLC acquired a new stake in shares of United States Cellular Corporation during the second quarter worth $1,004,000. Systematic Financial Management LP bought a new position in United States Cellular Corporation during the second quarter worth $1,719,000. Tudor Investment Corp ET AL lifted its stake in shares of United States Cellular Corporation by 16.9% in the first quarter. Tudor Investment Corp ET AL now owns 9,000 shares of the Wireless communications provider’s stock valued at $336,000 after buying an additional 1,300 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of United States Cellular Corporation by 9.9% in the second quarter. TIAA CREF Investment Management LLC now owns 53,316 shares of the Wireless communications provider’s stock valued at $2,043,000 after buying an additional 4,800 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of United States Cellular Corporation by 377.6% in the first quarter. Morgan Stanley now owns 128,172 shares of the Wireless communications provider’s stock valued at $4,784,000 after buying an additional 101,337 shares in the last quarter. Hedge funds and other institutional investors own 14.54% of the company’s stock.
About United States Cellular Corporation
United States Cellular Corporation (U.S. Cellular) is a provider of wireless telecommunication services. The Company’s wireless operating markets are in the United States. U.S. Cellular provides service to postpaid and prepaid customers from a range of demographic segments. The Company focuses on retail consumers, government and small-to-mid-size business customers in industries, such as construction, retail, professional services and real estate.
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