United States Cellular Trading Down 5.6% Following Weak Earnings (USM)
United States Cellular (NYSE:USM)’s share price fell 5.6% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings, AR Network reports. The company traded as low as $35.28 and last traded at $35.39, with a volume of 113,267 shares traded. The stock had previously closed at $37.49.
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 stock. United States Cellular currently has an average rating of “Hold” and a consensus price target of $43.00.
The stock’s 50-day moving average is $39.81 and its 200-day moving average is $40.84. The company has a market cap of $2.924 billion and a price-to-earnings ratio of 20.62.
United States Cellular Corporation (NYSE:USM) is a wireless telecommunications service provider.
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