United States Cellular (NYSE:USM) Trading Down 4.5%

United States Cellular Co. (NYSE:USM)’s share price dropped 4.5% on Tuesday . The stock traded as low as $42.17 and last traded at $42.49. Approximately 88,469 shares traded hands during trading, a decline of 66% from the average daily volume of 259,018 shares. The stock had previously closed at $44.50.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their target price on shares of United States Cellular from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, May 13th.

United States Cellular Price Performance

The company has a current ratio of 1.67, a quick ratio of 1.46 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3.71 billion, a P/E ratio of 65.19 and a beta of 0.45. The company has a 50 day moving average of $37.57 and a 200-day moving average of $39.78.

United States Cellular (NYSE:USM) last announced its earnings results on Friday, May 3rd. The Wireless communications provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.06). The business had revenue of $950.00 million for the quarter, compared to the consensus estimate of $957.75 million. United States Cellular had a return on equity of 1.30% and a net margin of 1.55%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. On average, sell-side analysts predict that United States Cellular Co. will post 0.58 EPS for the current year.

Hedge Funds Weigh In On United States Cellular

Several hedge funds have recently bought and sold shares of USM. Quest Partners LLC acquired a new position in United States Cellular during the fourth quarter valued at approximately $43,000. Clear Street Markets LLC bought a new stake in shares of United States Cellular during the 4th quarter worth $105,000. Bfsg LLC acquired a new stake in United States Cellular in the fourth quarter valued at about $137,000. DekaBank Deutsche Girozentrale acquired a new position in United States Cellular during the third quarter worth about $149,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of United States Cellular by 226.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,463 shares of the Wireless communications provider’s stock worth $149,000 after acquiring an additional 2,403 shares during the last quarter. 18.03% of the stock is owned by institutional investors.

About United States Cellular

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.