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

United States Cellular (NYSE:USM) was upgraded by investment analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, FinViz reports. The firm currently has a $86.00 price target on the Wireless communications provider’s stock. Raymond James’ target price would suggest a potential upside of 32.00% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Wells Fargo & Company upped their target price on United States Cellular from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com cut shares of United States Cellular from a “hold” rating to a “sell” rating in a report on Tuesday.

United States Cellular Price Performance

USM opened at $65.15 on Thursday. United States Cellular has a twelve month low of $32.01 and a twelve month high of $67.84. 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 cap of $5.60 billion, a price-to-earnings ratio of -180.97 and a beta of 0.47. The company has a fifty day simple moving average of $57.44 and a 200 day simple moving average of $52.74.

United States Cellular (NYSE:USM) last announced 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 positive return on equity of 1.55% and a negative net margin of 0.79%. The business had revenue of $922.00 million for the quarter, compared to analyst estimates of $940.40 million. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts expect that United States Cellular will post 0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On United States Cellular

A number of hedge funds have recently added to or reduced their stakes in USM. Summit Securities Group LLC acquired a new position in United States Cellular in the second quarter valued at approximately $28,000. SG Americas Securities LLC acquired a new position in United States Cellular during the 2nd quarter valued at approximately $115,000. Bailard Inc. bought a new position in United States Cellular during the 2nd quarter worth $207,000. Invesco LLC acquired a new stake in United States Cellular in the second quarter worth $214,000. Finally, The Manufacturers Life Insurance Company bought a new stake in United States Cellular in the second quarter valued at $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.