United States Cellular (NYSE:USM) Price Target Raised to $85.00 at Wells Fargo & Company

United States Cellular (NYSE:USM) had its price objective boosted by Wells Fargo & Company from $75.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the Wireless communications provider’s stock.

United States Cellular Trading Up 10.4 %

Shares of NYSE USM opened at $65.15 on Monday. The business has a 50-day moving average price of $57.44 and a two-hundred day moving average price of $52.74. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $5.60 billion, a PE ratio of -180.97 and a beta of 0.47. United States Cellular has a one year low of $32.01 and a one year high of $67.84.

United States Cellular (NYSE:USM) last released its earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. 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 $922.00 million during the quarter, compared to the consensus estimate of $940.40 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that United States Cellular will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Summit Securities Group LLC bought a new stake in United States Cellular in the second quarter worth $28,000. SG Americas Securities LLC acquired a new stake in shares of United States Cellular in the second quarter worth about $115,000. Bailard Inc. bought a new stake in shares of United States Cellular during the 2nd quarter worth about $207,000. Invesco LLC acquired a new position in shares of United States Cellular during the 2nd quarter valued at about $214,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of United States Cellular in the 2nd quarter valued at approximately $218,000. Institutional investors and hedge funds 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.