T-Mobile US (NASDAQ:TMUS) Stock Price Target Lowered at Scotiabank

T-Mobile US (NASDAQ:TMUS) had its price objective dropped by stock analysts at Scotiabank from $232.00 to $217.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “sector outperform” rating on the Wireless communications provider’s stock. Scotiabank’s target price points to a potential upside of 33.62% from the company’s current price.

Several other analysts have also issued reports on TMUS. Sanford C. Bernstein reaffirmed a “neutral” rating on shares of T-Mobile US in a research note on Monday. Bank of America upgraded shares of T-Mobile US from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Monday, July 6th. Moffett Nathanson boosted their price target on shares of T-Mobile US from $242.00 to $246.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Royal Bank Of Canada cut their price target on shares of T-Mobile US from $240.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 20th. Finally, Wells Fargo & Company reduced their price objective on T-Mobile US from $170.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.84.

T-Mobile US Price Performance

Shares of TMUS traded up $0.68 during midday trading on Friday, hitting $162.41. 1,029,401 shares of the company traded hands, compared to its average volume of 5,570,617. The stock has a 50-day moving average of $176.73 and a 200-day moving average of $186.11. The firm has a market cap of $174.21 billion, a P/E ratio of 17.04, a PEG ratio of 1.03 and a beta of 0.33. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.92 and a quick ratio of 0.83. T-Mobile US has a one year low of $160.81 and a one year high of $231.02.

T-Mobile US (NASDAQ:TMUS) last released its quarterly earnings results on Thursday, July 23rd. The Wireless communications provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.40. The firm had revenue of $22.79 billion for the quarter, compared to analysts’ expectations of $22.95 billion. T-Mobile US had a net margin of 11.45% and a return on equity of 20.16%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.84 earnings per share. As a group, sell-side analysts predict that T-Mobile US will post 11.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Daniel James Drobac sold 772 shares of T-Mobile US stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $178.33, for a total transaction of $137,670.76. Following the sale, the chief accounting officer owned 35,118 shares of the company’s stock, valued at approximately $6,262,592.94. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On T-Mobile US

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of T-Mobile US during the second quarter valued at approximately $6,625,275,000. State Street Corp boosted its holdings in shares of T-Mobile US by 4.3% during the 4th quarter. State Street Corp now owns 25,281,709 shares of the Wireless communications provider’s stock valued at $5,133,198,000 after acquiring an additional 1,047,624 shares during the last quarter. Capital International Investors grew its stake in shares of T-Mobile US by 8.2% in the fourth quarter. Capital International Investors now owns 14,847,697 shares of the Wireless communications provider’s stock worth $3,014,754,000 after acquiring an additional 1,121,409 shares during the period. Invesco Ltd. increased its position in T-Mobile US by 10.5% during the fourth quarter. Invesco Ltd. now owns 8,730,485 shares of the Wireless communications provider’s stock valued at $1,772,638,000 after acquiring an additional 827,381 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of T-Mobile US by 3.6% during the 4th quarter. Franklin Resources Inc. now owns 6,395,890 shares of the Wireless communications provider’s stock valued at $1,298,622,000 after acquiring an additional 222,603 shares during the period. 42.49% of the stock is currently owned by institutional investors.

About T-Mobile US

T-Mobile US, Inc is a wireless communications company that provides mobile voice, messaging, and data services to consumers, businesses, and government customers in the United States. Its offerings include wireless plans, smartphones, connected devices, accessories, and related services, supported by a nationwide cellular network.

The company also provides fixed wireless broadband and other internet services for households, as well as wireless connectivity, networking, and communications solutions for businesses and public-sector organizations.