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

Shares of United States Cellular Co. (NYSE:USM) crossed 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on USM shares. Wells Fargo & Company boosted their target price 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. Raymond James upgraded United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a report on Thursday, November 7th. Finally, StockNews.com upgraded United States Cellular from a “sell” rating to a “hold” rating in a report on Saturday.

United States Cellular Stock Down 0.3 %

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

United States Cellular (NYSE:USM) last announced its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.13. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%. The company had revenue of $922.00 million during the quarter, compared to the consensus estimate of $940.40 million. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that United States Cellular Co. will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in United States Cellular by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,299,323 shares of the Wireless communications provider’s stock valued at $128,349,000 after purchasing an additional 72,843 shares during the last quarter. Gabelli Funds LLC increased its stake in United States Cellular by 3.2% during the 2nd quarter. Gabelli Funds LLC now owns 680,300 shares of the Wireless communications provider’s stock worth $37,974,000 after acquiring an additional 20,785 shares during the period. Point72 Asset Management L.P. bought a new position in United States Cellular during the 2nd quarter worth $22,394,000. American Century Companies Inc. increased its stake in shares of United States Cellular by 8.7% in the 2nd quarter. American Century Companies Inc. now owns 327,931 shares of the Wireless communications provider’s stock valued at $18,305,000 after purchasing an additional 26,369 shares during the last quarter. Finally, FMR LLC increased its stake in shares of United States Cellular by 3.5% in the 3rd quarter. FMR LLC now owns 247,985 shares of the Wireless communications provider’s stock valued at $13,552,000 after purchasing an additional 8,416 shares during the last quarter. 18.03% of the stock is owned by institutional investors and hedge funds.

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.