United States Cellular (NYSE:USM) Reaches New 1-Year High – Here’s Why

United States Cellular Co. (NYSE:USM) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.33 and last traded at $69.57, with a volume of 14669 shares. The stock had previously closed at $68.70.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on USM shares. 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 target on United States Cellular from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, February 24th.

United States Cellular Stock Performance

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’s fifty day moving average price is $64.80 and its 200 day moving average price is $61.85. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -194.16 and a beta of 0.46.

United States Cellular (NYSE:USM) last posted its earnings results on Friday, February 21st. The Wireless communications provider reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.15. The firm had revenue of $970.00 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.23 EPS. Analysts forecast that United States Cellular Co. will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On United States Cellular

A number of hedge funds have recently bought and sold shares of USM. Amundi increased its stake in shares of United States Cellular by 17.6% during the fourth quarter. Amundi now owns 1,628 shares of the Wireless communications provider’s stock worth $99,000 after buying an additional 244 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of United States Cellular by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,148 shares of the Wireless communications provider’s stock valued at $227,000 after purchasing an additional 245 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of United States Cellular by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,029 shares of the Wireless communications provider’s stock valued at $1,969,000 after purchasing an additional 264 shares in the last quarter. Swiss National Bank lifted its position in shares of United States Cellular by 1.3% during the 4th quarter. Swiss National Bank now owns 31,300 shares of the Wireless communications provider’s stock worth $1,963,000 after purchasing an additional 400 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of United States Cellular by 37.6% during the fourth quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 453 shares in the last quarter. Institutional investors and hedge funds own 18.03% of the company’s stock.

United States Cellular Company Profile

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.