United States Cellular (NYSE:USM) Cut to Hold at ValuEngine

United States Cellular (NYSE:USM) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

USM has been the topic of a number of other reports. Zacks Investment Research upgraded shares of United States Cellular from a “strong sell” rating to a “hold” rating in a research report on Friday, April 26th. Morgan Stanley upgraded shares of United States Cellular from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $44.00 to $64.50 in a research report on Tuesday, June 18th. Finally, Raymond James reduced their target price on shares of United States Cellular from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. United States Cellular currently has an average rating of “Buy” and a consensus target price of $56.50.

Shares of USM stock traded down $7.88 during trading hours on Thursday, reaching $38.20. 1,005,817 shares of the company were exchanged, compared to its average volume of 201,044. United States Cellular has a fifty-two week low of $36.30 and a fifty-two week high of $59.74. The business has a fifty day moving average price of $46.74. The firm has a market cap of $4.14 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 32.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.10 and a current ratio of 2.29.

United States Cellular (NYSE:USM) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.06). United States Cellular had a return on equity of 3.76% and a net margin of 4.01%. The company had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. United States Cellular’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts predict that United States Cellular will post 1.46 EPS for the current year.

In related news, EVP Steven T. Campbell sold 4,703 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $48.17, for a total value of $226,543.51. Following the transaction, the executive vice president now directly owns 23,935 shares in the company, valued at $1,152,948.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth R. Meyers sold 16,045 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $47.26, for a total transaction of $758,286.70. Following the completion of the transaction, the chief executive officer now owns 99,726 shares in the company, valued at $4,713,050.76. The disclosure for this sale can be found here. Insiders sold 105,942 shares of company stock worth $4,953,742 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC lifted its holdings in United States Cellular by 80.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,880 shares of the Wireless communications provider’s stock valued at $680,000 after buying an additional 6,625 shares during the period. Tyers Asset Management LLC lifted its holdings in United States Cellular by 154.8% in the first quarter. Tyers Asset Management LLC now owns 27,412 shares of the Wireless communications provider’s stock valued at $1,259,000 after buying an additional 16,654 shares during the period. Twin Tree Management LP acquired a new position in United States Cellular in the first quarter valued at approximately $53,000. Martingale Asset Management L P lifted its holdings in United States Cellular by 70.0% in the first quarter. Martingale Asset Management L P now owns 95,175 shares of the Wireless communications provider’s stock valued at $4,371,000 after buying an additional 39,203 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in United States Cellular by 15.4% in the first quarter. New York State Common Retirement Fund now owns 70,574 shares of the Wireless communications provider’s stock valued at $3,240,000 after buying an additional 9,441 shares during the period. Institutional investors and hedge funds own 16.90% 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 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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