Zacks Investment Research downgraded shares of United States Cellular Corporation (NYSE:USM) from a buy rating to a hold rating in a research report sent to investors on Tuesday, August 8th.
According to Zacks, “U.S. Cellular posted mixed second-quarter 2017 financial results where its top line surpassed the Zacks Consensus Estimate, the bottom line met the mark. Recently, U.S. Cellular offered free iPhone 7 to subscribers who switched to its network from rival carriers in a bid to lure them. U.S. Cellular’s strategic moves of introducing a new billing system, continuous rollout of 4G LTE, enhancement of LTE handsets, completion of various spectrum transactions and monetization of non-strategic assets looks impressive. Raising the amount of prepaid data plans have added subscribers. The Shared Connect plans which offer more data, larger allotments also bode well. However, competitive and consolidated wireless market, costs associated with network integration and construction of cell sites, aggressive pricing by larger rivals and fall in service revenues act as major dampeners. Over the past six months, the stock price lags its industry performance.”
USM has been the topic of several other research reports. BidaskClub upgraded United States Cellular Corporation from a sell rating to a hold rating in a research note on Saturday, August 5th. ValuEngine upgraded United States Cellular Corporation from a sell rating to a hold rating in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $38.00.
United States Cellular Corporation (NYSE USM) traded down 0.18% during mid-day trading on Tuesday, hitting $38.01. 99,212 shares of the stock were exchanged. United States Cellular Corporation has a 52-week low of $33.30 and a 52-week high of $46.01. The stock has a 50 day moving average of $38.43 and a 200-day moving average of $38.89. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 66.45 and a beta of 0.82.
United States Cellular Corporation (NYSE:USM) last announced its quarterly earnings results on Friday, August 4th. The Wireless communications provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by $0.03. The firm had revenue of $963 million for the quarter, compared to analysts’ expectations of $949.43 million. United States Cellular Corporation had a net margin of 1.26% and a return on equity of 1.12%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. Equities analysts predict that United States Cellular Corporation will post $0.46 EPS for the current fiscal year.
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In other United States Cellular Corporation news, EVP Steven T. Campbell sold 18,292 shares of United States Cellular Corporation stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $39.95, for a total value of $730,765.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its position in United States Cellular Corporation by 98.5% in the first quarter. Bank of Montreal Can now owns 3,710 shares of the Wireless communications provider’s stock valued at $138,000 after buying an additional 1,841 shares during the period. Quotient Investors LLC bought a new position in United States Cellular Corporation during the first quarter valued at about $329,000. Tudor Investment Corp ET AL raised its position in United States Cellular Corporation by 16.9% in the first quarter. Tudor Investment Corp ET AL now owns 9,000 shares of the Wireless communications provider’s stock valued at $336,000 after buying an additional 1,300 shares during the period. Swiss National Bank raised its position in United States Cellular Corporation by 6.3% in the first quarter. Swiss National Bank now owns 17,000 shares of the Wireless communications provider’s stock valued at $635,000 after buying an additional 1,000 shares during the period. Finally, Clinton Group Inc. bought a new position in United States Cellular Corporation during the first quarter valued at about $1,259,000. Institutional investors own 15.10% of the company’s stock.
About United States Cellular Corporation
United States Cellular Corporation (U.S. Cellular) is a provider of wireless telecommunication services. The Company’s wireless operating markets are in the United States. U.S. Cellular provides service to postpaid and prepaid customers from a range of demographic segments. The Company focuses on retail consumers, government and small-to-mid-size business customers in industries, such as construction, retail, professional services and real estate.
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