United States Cellular Corporation (NYSE:USM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “U.S. Cellular’s top priority involves subscriber additions and churn management. The company has taken a number of strategic moves like introduction of a new billing system, continuous rollout of 4G LTE, enhancement of LTE handsets, completion of various spectrum transactions and monetization of non-strategic assets, to achieve its target. U.S. Cellular is optimistic about the growing demand for smartphones, which enjoy significant market penetration, supporting growth in data revenues. However, we remain concerned about the company’s operation in an intensely competitive and consolidated wireless market. Further, costs associated with network integration and construction of cell sites, aggressive pricing by larger rivals and fall in service revenues act as major dampeners. Over the past three months, the stock price declined 3.7% as against the industry's gain of 0.1%.”

Separately, BidaskClub raised shares of United States Cellular Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.33.

Shares of United States Cellular Corporation (NYSE:USM) traded up 0.03% during trading on Tuesday, hitting $36.46. 12,204 shares of the stock traded hands. United States Cellular Corporation has a 1-year low of $33.30 and a 1-year high of $46.01. The firm has a 50-day moving average of $36.14 and a 200-day moving average of $38.03. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 63.74 and a beta of 0.81.

United States Cellular Corporation (NYSE:USM) last issued its quarterly earnings data on Friday, August 4th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $963.00 million for the quarter, compared to analyst estimates of $949.43 million. United States Cellular Corporation had a net margin of 1.26% and a return on equity of 1.12%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, equities analysts forecast that United States Cellular Corporation will post $0.31 earnings per share for the current year.

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In other United States Cellular Corporation news, EVP Steven T. Campbell sold 18,292 shares of United States Cellular Corporation stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $39.95, for a total value of $730,765.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of USM. Sei Investments Co. raised its position in shares of United States Cellular Corporation by 19.7% in the first quarter. Sei Investments Co. now owns 2,897 shares of the Wireless communications provider’s stock valued at $108,000 after purchasing an additional 476 shares during the period. DIAM Co. Ltd. bought a new stake in shares of United States Cellular Corporation in the second quarter valued at approximately $125,000. Citigroup Inc. raised its position in shares of United States Cellular Corporation by 2,940.5% in the second quarter. Citigroup Inc. now owns 3,375 shares of the Wireless communications provider’s stock valued at $130,000 after purchasing an additional 3,264 shares during the period. Bank of Montreal Can raised its position in shares of United States Cellular Corporation by 98.5% in the first quarter. Bank of Montreal Can now owns 3,710 shares of the Wireless communications provider’s stock valued at $138,000 after purchasing an additional 1,841 shares during the period. Finally, Cigna Investments Inc. New bought a new stake in shares of United States Cellular Corporation in the fourth quarter valued at approximately $205,000. 14.67% of the stock is currently owned by institutional investors.

About United States Cellular Corporation

United States Cellular Corporation (U.S. Cellular) is a provider of wireless telecommunication services. The Company’s wireless operating markets are in the United States. U.S. Cellular provides service to postpaid and prepaid customers from a range of demographic segments. The Company focuses on retail consumers, government and small-to-mid-size business customers in industries, such as construction, retail, professional services and real estate.

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