United States Cellular (NYSE:USM) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of United States Cellular (NYSE:USM) from a market perform rating to an outperform rating in a report issued on Thursday morning, MarketBeat.com reports. They currently have $86.00 price target on the Wireless communications provider’s stock.

A number of other research firms have also commented on USM. StockNews.com lowered shares of United States Cellular from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of United States Cellular from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, November 4th.

United States Cellular Stock Performance

USM opened at $63.97 on Thursday. The business’s 50 day moving average is $57.79 and its 200-day moving average is $53.14. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. United States Cellular has a twelve month low of $32.01 and a twelve month high of $68.31.

United States Cellular (NYSE:USM) last released its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.13. The company had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $940.40 million. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Equities research analysts expect that United States Cellular will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in USM. Dimensional Fund Advisors LP grew its position in United States Cellular by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,299,323 shares of the Wireless communications provider’s stock worth $128,349,000 after buying an additional 72,843 shares during the last quarter. Jericho Capital Asset Management L.P. grew its position in United States Cellular by 13.1% in the first quarter. Jericho Capital Asset Management L.P. now owns 1,592,792 shares of the Wireless communications provider’s stock worth $58,137,000 after buying an additional 184,000 shares during the last quarter. Gamco Investors INC. ET AL grew its position in United States Cellular by 3.3% in the first quarter. Gamco Investors INC. ET AL now owns 1,480,017 shares of the Wireless communications provider’s stock worth $54,021,000 after buying an additional 47,267 shares during the last quarter. Gabelli Funds LLC grew its position in United States Cellular by 3.2% in the second quarter. Gabelli Funds LLC now owns 680,300 shares of the Wireless communications provider’s stock worth $37,974,000 after buying an additional 20,785 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in United States Cellular in the second quarter worth approximately $22,394,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

United States Cellular Company Profile

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.