State Street Corp Has $5.81 Million Stake in United States Cellular Co. (NYSE:USM)

State Street Corp lifted its stake in shares of United States Cellular Co. (NYSE:USM) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,343 shares of the Wireless communications provider’s stock after purchasing an additional 12,219 shares during the quarter. State Street Corp owned 0.12% of United States Cellular worth $5,812,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Invesco LLC acquired a new position in shares of United States Cellular in the 2nd quarter valued at about $214,000. The Manufacturers Life Insurance Company bought a new stake in shares of United States Cellular during the second quarter worth about $218,000. Johnson Investment Counsel Inc. acquired a new stake in shares of United States Cellular in the 2nd quarter worth about $234,000. Arizona State Retirement System purchased a new position in shares of United States Cellular during the second quarter valued at approximately $245,000. Finally, Ionic Capital Management LLC bought a new position in shares of United States Cellular during the third quarter valued at about $246,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on USM. StockNews.com raised shares of United States Cellular from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Raymond James upgraded shares of United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price target on shares of United States Cellular from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, November 4th.

United States Cellular Stock Performance

Shares of USM opened at $63.71 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.57. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -176.97 and a beta of 0.48. United States Cellular Co. has a 52-week low of $32.01 and a 52-week high of $68.31. The stock’s 50-day simple moving average is $62.35 and its 200 day simple moving average is $57.49.

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, topping the consensus estimate of $0.13 by $0.13. The business had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $940.40 million. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. Research analysts forecast that United States Cellular Co. will post 0.57 EPS for the current fiscal year.

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.