T-Mobile US, Inc. (NASDAQ:TMUS) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 20,231,984 shares, a drop of 9.9% from the May 31st total of 22,465,695 shares. Based on an average daily trading volume, of 3,758,351 shares, the days-to-cover ratio is presently 5.4 days. Approximately 6.9% of the shares of the stock are sold short.

Several analysts recently weighed in on the company. Wells Fargo & Company reaffirmed an “outperform” rating on shares of T-Mobile US in a research note on Wednesday. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating on shares of T-Mobile US in a research note on Wednesday. BidaskClub lowered T-Mobile US from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $69.00 price objective on shares of T-Mobile US in a research note on Friday, June 23rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $76.00 price objective on shares of T-Mobile US in a research note on Friday, June 2nd. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $66.94.

Shares of T-Mobile US (NASDAQ:TMUS) opened at 61.48 on Thursday. T-Mobile US has a one year low of $40.50 and a one year high of $68.88. The company has a market capitalization of $51.08 billion, a P/E ratio of 31.58 and a beta of 0.43. The firm has a 50-day moving average price of $65.87 and a 200-day moving average price of $62.56.

T-Mobile US (NASDAQ:TMUS) last released its quarterly earnings data on Monday, April 24th. The Wireless communications provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.46. T-Mobile US had a return on equity of 6.96% and a net margin of 4.39%. The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter last year, the business posted $0.56 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that T-Mobile US will post $2.06 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in T-Mobile US by 3,998.0% in the first quarter. BlackRock Inc. now owns 13,832,340 shares of the Wireless communications provider’s stock valued at $893,431,000 after buying an additional 13,494,802 shares during the period. Norges Bank acquired a new stake in T-Mobile US during the fourth quarter valued at $474,279,000. Marshall Wace North America L.P. acquired a new stake in T-Mobile US during the first quarter valued at $298,008,000. Paulson & CO. Inc. acquired a new stake in T-Mobile US during the first quarter valued at $267,409,000. Finally, OZ Management LP acquired a new stake in T-Mobile US during the first quarter valued at $82,521,000. Institutional investors and hedge funds own 36.62% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This article was reported by American Banking News and is owned by of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/06/29/t-mobile-us-inc-tmus-sees-significant-decrease-in-short-interest.html.

Receive News & Ratings for T-Mobile US Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T-Mobile US Inc. and related companies with MarketBeat.com's FREE daily email newsletter.