United States Cellular (USM) Hits New 52-Week High at $58.48

United States Cellular Corp (NYSE:USM) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.48 and last traded at $57.32, with a volume of 1379 shares changing hands. The stock had previously closed at $57.36.

A number of research analysts have issued reports on USM shares. Zacks Investment Research lowered shares of United States Cellular from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 8th. B. Riley reissued a “neutral” rating and set a $53.00 target price on shares of United States Cellular in a research note on Thursday, November 1st. Raymond James upped their price target on shares of United States Cellular from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Finally, ValuEngine raised shares of United States Cellular from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.00.

The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 98.69, a P/E/G ratio of 38.69 and a beta of 0.50. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 0.40.

United States Cellular (NYSE:USM) last issued its quarterly earnings results on Friday, November 2nd. The Wireless communications provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.17. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $993.91 million. United States Cellular had a net margin of 10.21% and a return on equity of 3.05%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. On average, research analysts predict that United States Cellular Corp will post 1.62 EPS for the current year.

In related news, Director Harry J. Harczak, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $52.05, for a total value of $260,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth R. Meyers sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $57.11, for a total transaction of $1,998,850.00. Following the completion of the sale, the insider now owns 126,947 shares in the company, valued at $7,249,943.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,859 shares of company stock valued at $5,129,080. Company insiders own 1.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its stake in United States Cellular by 27.9% in the 3rd quarter. Engineers Gate Manager LP now owns 15,360 shares of the Wireless communications provider’s stock valued at $688,000 after buying an additional 3,349 shares during the period. Stone Ridge Asset Management LLC increased its stake in United States Cellular by 12.0% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 40,485 shares of the Wireless communications provider’s stock valued at $1,813,000 after buying an additional 4,353 shares during the period. United Services Automobile Association acquired a new position in United States Cellular in the 3rd quarter valued at approximately $215,000. Rhumbline Advisers increased its stake in United States Cellular by 41.9% in the 3rd quarter. Rhumbline Advisers now owns 17,931 shares of the Wireless communications provider’s stock valued at $803,000 after buying an additional 5,294 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in United States Cellular by 4.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 124,131 shares of the Wireless communications provider’s stock valued at $5,558,000 after buying an additional 5,607 shares during the period. Institutional investors and hedge funds own 16.12% of the company’s stock.

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United States Cellular Company Profile (NYSE:USM)

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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