T-Mobile US (NASDAQ:TMUS) Given New $240.00 Price Target at Bank of America

T-Mobile US (NASDAQ:TMUS) had its price objective upped by Bank of America from $220.00 to $240.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the Wireless communications provider’s stock.

Several other research firms have also recently commented on TMUS. TD Cowen raised their target price on shares of T-Mobile US from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Sanford C. Bernstein raised T-Mobile US to a “strong-buy” rating in a research report on Wednesday, July 31st. Raymond James lowered shares of T-Mobile US from a “strong-buy” rating to an “outperform” rating and boosted their target price for the company from $208.00 to $221.00 in a research note on Wednesday, October 2nd. KeyCorp upped their price target on shares of T-Mobile US from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Oppenheimer raised their target price on T-Mobile US from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.17.

T-Mobile US Price Performance

Shares of NASDAQ:TMUS opened at $226.36 on Thursday. T-Mobile US has a one year low of $138.42 and a one year high of $234.56. The company’s fifty day moving average price is $206.12 and its 200-day moving average price is $185.58. The firm has a market capitalization of $264.11 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.15 and a beta of 0.51. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.84 and a quick ratio of 0.78.

T-Mobile US (NASDAQ:TMUS) last announced its quarterly earnings data on Wednesday, October 23rd. The Wireless communications provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.29. T-Mobile US had a return on equity of 14.88% and a net margin of 11.95%. The firm had revenue of $20.16 billion for the quarter, compared to analysts’ expectations of $20.01 billion. During the same period last year, the firm earned $1.82 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that T-Mobile US will post 9.22 earnings per share for the current fiscal year.

T-Mobile US Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, November 27th. This is a positive change from T-Mobile US’s previous quarterly dividend of $0.65. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. T-Mobile US’s dividend payout ratio (DPR) is 32.58%.

Insider Activity at T-Mobile US

In other T-Mobile US news, EVP Deeanne King sold 15,437 shares of T-Mobile US stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $190.00, for a total transaction of $2,933,030.00. Following the completion of the sale, the executive vice president now directly owns 35,588 shares of the company’s stock, valued at $6,761,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Raul Marcelo Claure sold 9,586 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $196.96, for a total transaction of $1,888,058.56. Following the transaction, the director now owns 1,940,792 shares in the company, valued at $382,258,392.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Deeanne King sold 15,437 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $190.00, for a total transaction of $2,933,030.00. Following the sale, the executive vice president now directly owns 35,588 shares in the company, valued at $6,761,720. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,261 shares of company stock worth $69,411,130. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new position in shares of T-Mobile US in the first quarter valued at approximately $1,908,000. CFO4Life Group LLC purchased a new stake in shares of T-Mobile US in the 1st quarter valued at approximately $932,000. NewEdge Advisors LLC lifted its holdings in shares of T-Mobile US by 13.6% in the 2nd quarter. NewEdge Advisors LLC now owns 211,059 shares of the Wireless communications provider’s stock worth $37,184,000 after acquiring an additional 25,217 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of T-Mobile US by 26.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,438 shares of the Wireless communications provider’s stock worth $3,336,000 after purchasing an additional 4,253 shares during the period. Finally, Findlay Park Partners LLP grew its stake in shares of T-Mobile US by 6.0% in the first quarter. Findlay Park Partners LLP now owns 1,882,607 shares of the Wireless communications provider’s stock valued at $307,279,000 after buying an additional 107,100 shares in the last quarter. 42.49% of the stock is currently owned by institutional investors and hedge funds.

About T-Mobile US

T-Mobile US, Inc, together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging, and data services to customers in the postpaid, prepaid, and wholesale and other services. It also provides wireless devices, including smartphones, wearables, tablets, home broadband routers, and other mobile communication devices, as well as wireless devices and accessories; financing through equipment installment plans; reinsurance for device insurance policies and extended warranty contracts; leasing through JUMP! On Demand; and High Speed Internet services.