United States Cellular (NYSE:USM) Reaches New 52-Week High – Here’s Why

Shares of United States Cellular Co. (NYSE:USM) reached a new 52-week high during trading on Monday . The company traded as high as $70.49 and last traded at $68.82, with a volume of 289419 shares changing hands. The stock had previously closed at $69.95.

Analysts Set New Price Targets

Several research analysts have recently weighed in on USM shares. StockNews.com raised shares of United States Cellular from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of United States Cellular from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, February 24th.

United States Cellular Stock Up 0.1 %

The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $5.90 billion, a PE ratio of -192.84 and a beta of 0.46. The business’s 50-day moving average price is $65.32 and its 200-day moving average price is $62.26.

United States Cellular (NYSE:USM) last issued its earnings results on Friday, February 21st. The Wireless communications provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.15. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The company had revenue of $970.00 million during the quarter, compared to analyst estimates of $964.70 million. During the same quarter last year, the business posted $0.23 EPS. As a group, equities research analysts predict that United States Cellular Co. will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of United States Cellular during the 4th quarter worth about $38,000. Lazard Asset Management LLC increased its holdings in United States Cellular by 1,837.5% in the fourth quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 882 shares during the last quarter. Amundi raised its position in United States Cellular by 17.6% during the fourth quarter. Amundi now owns 1,628 shares of the Wireless communications provider’s stock valued at $99,000 after acquiring an additional 244 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in United States Cellular by 37.6% in the fourth quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider’s stock valued at $104,000 after acquiring an additional 453 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in United States Cellular by 1,917.3% in the fourth quarter. Venturi Wealth Management LLC now owns 2,219 shares of the Wireless communications provider’s stock worth $139,000 after acquiring an additional 2,109 shares in the last quarter. Hedge funds and other institutional investors own 18.03% of the company’s stock.

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.