United States Cellular (NYSE:USM) Lifted to Overweight at Morgan Stanley

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United States Cellular (NYSE:USM) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $64.50 target price on the Wireless communications provider’s stock, up from their previous target price of $44.00. Morgan Stanley’s target price suggests a potential upside of 28.90% from the stock’s current price.

Several other research analysts have also recently commented on the company. Raymond James reduced their price target on United States Cellular from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Zacks Investment Research raised United States Cellular from a “strong sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, B. Riley set a $50.00 price target on United States Cellular and gave the company a “hold” rating in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $54.25.

Shares of NYSE USM opened at $50.04 on Tuesday. United States Cellular has a 52 week low of $32.33 and a 52 week high of $59.74. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.59. The company has a market cap of $3.82 billion, a P/E ratio of 29.09, a P/E/G ratio of 34.65 and a beta of 0.73.

United States Cellular (NYSE:USM) last issued its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.46 by $0.16. United States Cellular had a return on equity of 3.76% and a net margin of 4.01%. The firm had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $980.16 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that United States Cellular will post 1.27 EPS for the current year.

In other news, insider Kenneth R. Meyers sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $44.05, for a total value of $1,321,500.00. Following the completion of the sale, the insider now directly owns 100,632 shares of the company’s stock, valued at $4,432,839.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald E. Daly sold 1,294 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $47.15, for a total value of $61,012.10. Following the completion of the sale, the director now directly owns 3,991 shares of the company’s stock, valued at $188,175.65. The disclosure for this sale can be found here. Insiders have sold 55,223 shares of company stock valued at $2,522,950 over the last three months. Insiders own 0.62% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in USM. Norges Bank acquired a new stake in shares of United States Cellular in the fourth quarter valued at approximately $15,669,000. Acadian Asset Management LLC lifted its position in shares of United States Cellular by 37.4% in the fourth quarter. Acadian Asset Management LLC now owns 745,055 shares of the Wireless communications provider’s stock valued at $38,720,000 after buying an additional 202,752 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of United States Cellular by 280.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 228,867 shares of the Wireless communications provider’s stock valued at $10,507,000 after buying an additional 168,639 shares during the last quarter. Mackay Shields LLC lifted its position in shares of United States Cellular by 220.6% in the fourth quarter. Mackay Shields LLC now owns 175,107 shares of the Wireless communications provider’s stock valued at $9,100,000 after buying an additional 120,493 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of United States Cellular by 230,505.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 87,630 shares of the Wireless communications provider’s stock valued at $4,554,000 after buying an additional 87,592 shares during the last quarter. 16.91% of the stock is owned by institutional investors.

United States Cellular Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers postpaid and prepaid service plans with voice, messaging, and data usage option services; and smartphone messaging, data, and Internet services, which allow the customer to access the Web and social network sites, e-mail, text, picture, and video messaging, as well as to utilize GPS navigation, and browse and download various applications.

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Analyst Recommendations for United States Cellular (NYSE:USM)

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