United States Cellular (NYSE:USM) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

United States Cellular Co. (NYSE:USM) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $61.23 and traded as high as $65.23. United States Cellular shares last traded at $63.49, with a volume of 127,922 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on USM. StockNews.com upgraded United States Cellular from a “sell” rating to a “hold” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of United States Cellular from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, February 24th.

United States Cellular Stock Down 1.9 %

The firm has a 50-day moving average of $64.07 and a two-hundred day moving average of $61.23. 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 company has a market capitalization of $5.40 billion, a PE ratio of -176.34 and a beta of 0.46.

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

Institutional Investors Weigh In On United States Cellular

A number of institutional investors and hedge funds have recently made changes to their positions in USM. Tiptree Advisors LLC purchased a new position in shares of United States Cellular during the 4th quarter worth approximately $4,704,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of United States Cellular by 16.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,969 shares of the Wireless communications provider’s stock worth $2,632,000 after buying an additional 5,940 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of United States Cellular in the fourth quarter valued at $965,000. Two Sigma Advisers LP raised its holdings in shares of United States Cellular by 16.7% in the 4th quarter. Two Sigma Advisers LP now owns 6,300 shares of the Wireless communications provider’s stock valued at $395,000 after buying an additional 900 shares during the period. Finally, State of Wyoming lifted its stake in United States Cellular by 17.6% during the 4th quarter. State of Wyoming now owns 4,551 shares of the Wireless communications provider’s stock worth $285,000 after acquiring an additional 680 shares in the last quarter. 18.03% of the stock is owned by hedge funds and other institutional investors.

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.