United States Cellular (NYSE:USM) Stock Price Down 6.3% Following Weak Earnings

United States Cellular Co. (NYSE:USM) shares traded down 6.3% during trading on Monday following a dissappointing earnings announcement. The company traded as low as $59.30 and last traded at $59.13. 211,704 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 171,567 shares. The stock had previously closed at $63.07.

The Wireless communications provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.16). United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The business had revenue of $891.00 million for the quarter, compared to the consensus estimate of $924.90 million.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on United States Cellular from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, February 24th. StockNews.com raised shares of United States Cellular from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Raymond James reiterated an “outperform” rating and issued a $78.00 target price (down from $83.00) on shares of United States Cellular in a research note on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jericho Capital Asset Management L.P. lifted its position in United States Cellular by 2.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 1,815,844 shares of the Wireless communications provider’s stock valued at $113,890,000 after purchasing an additional 35,052 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of United States Cellular by 0.4% during the 4th quarter. Gabelli Funds LLC now owns 709,149 shares of the Wireless communications provider’s stock worth $44,478,000 after acquiring an additional 2,541 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in United States Cellular by 73.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 480,250 shares of the Wireless communications provider’s stock valued at $30,121,000 after acquiring an additional 204,146 shares during the last quarter. American Century Companies Inc. raised its position in United States Cellular by 12.4% during the fourth quarter. American Century Companies Inc. now owns 464,685 shares of the Wireless communications provider’s stock valued at $29,145,000 after purchasing an additional 51,362 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in United States Cellular by 0.6% during the fourth quarter. Ameriprise Financial Inc. now owns 227,397 shares of the Wireless communications provider’s stock worth $14,262,000 after purchasing an additional 1,350 shares during the last quarter. Hedge funds and other institutional investors own 18.03% of the company’s stock.

United States Cellular Price 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 stock has a market capitalization of $4.97 billion, a PE ratio of -162.50 and a beta of 0.39. The business has a fifty day moving average price of $66.27 and a 200-day moving average price of $64.18.

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.