United States Cellular (NYSE:USM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

United States Cellular (NYSE:USM) had its price objective hoisted by investment analysts at Wells Fargo & Company from $75.00 to $85.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the Wireless communications provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 44.09% from the stock’s current price.

United States Cellular Price Performance

USM stock opened at $58.99 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 1.55. United States Cellular has a 1 year low of $32.01 and a 1 year high of $67.84. The firm has a market cap of $5.07 billion, a P/E ratio of -163.86 and a beta of 0.47. The stock has a 50-day simple moving average of $57.27 and a 200-day simple moving average of $52.65.

United States Cellular (NYSE:USM) last posted its earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.13. United States Cellular had a positive return on equity of 1.54% and a negative net margin of 0.79%. The business had revenue of $922.00 million during the quarter, compared to analyst estimates of $940.40 million. During the same quarter last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts predict that United States Cellular will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. TCW Group Inc. boosted its holdings in United States Cellular by 200.8% in the second quarter. TCW Group Inc. now owns 212,294 shares of the Wireless communications provider’s stock valued at $11,850,000 after purchasing an additional 141,713 shares during the last quarter. Gabelli Funds LLC boosted its holdings in United States Cellular by 1.5% in the first quarter. Gabelli Funds LLC now owns 659,515 shares of the Wireless communications provider’s stock valued at $24,072,000 after purchasing an additional 9,815 shares during the last quarter. Empowered Funds LLC boosted its holdings in United States Cellular by 8.3% in the first quarter. Empowered Funds LLC now owns 190,665 shares of the Wireless communications provider’s stock valued at $6,959,000 after purchasing an additional 14,678 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $128,349,000 after purchasing an additional 72,843 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in United States Cellular in the second quarter valued at about $589,000. 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.