United States Cellular Reaches New 52-Week Low Following Weak Earnings (USM)
United States Cellular (NYSE:USM) reached a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings, AnalystRatings.NET reports. The stock traded as low as $35.83 and last traded at $37.21, with a volume of 159,526 shares traded. The stock had previously closed at $39.09.
The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.15) by $0.07. The company had revenue of $957.80 million for the quarter, compared to the consensus estimate of $923.29 million. During the same quarter in the prior year, the company posted $1.69 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of United States Cellular in a research note on Monday, June 9th. They now have a $43.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.00.
The stock’s 50-day moving average is $39.87 and its 200-day moving average is $40.88. The company has a market cap of $3.166 billion and a P/E ratio of 21.50.
United States Cellular Corporation (NYSE:USM) is a wireless telecommunications service provider.
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