Stock Buyback Plan Announced by T-Mobile US (TMUS) Board of Directors
T-Mobile US (NASDAQ:TMUS) announced that its board has initiated a share repurchase plan, which authorizes the company to repurchase $1.50 billion in outstanding shares on Wednesday, December 6th, EventVestor reports. This repurchase authorization authorizes the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
TMUS has been the topic of a number of analyst reports. KeyCorp set a $72.00 price target on T-Mobile US and gave the company a “buy” rating in a research report on Wednesday, October 11th. UBS reaffirmed a “buy” rating and issued a $70.00 price target (down previously from $80.00) on shares of T-Mobile US in a research report on Monday, November 6th. BidaskClub lowered T-Mobile US from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 9th. Cowen reissued a “buy” rating and set a $70.00 target price on shares of T-Mobile US in a research report on Friday, August 25th. Finally, Deutsche Bank cut their target price on T-Mobile US from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $69.34.
Shares of T-Mobile US (NASDAQ TMUS) traded up $1.16 during mid-day trading on Thursday, hitting $62.12. The company’s stock had a trading volume of 5,145,800 shares, compared to its average volume of 4,328,718. T-Mobile US has a one year low of $54.60 and a one year high of $68.88. The stock has a market cap of $51,680.00, a P/E ratio of 27.58, a P/E/G ratio of 1.14 and a beta of 0.29. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.
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About T-Mobile US
T-Mobile US, Inc, together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services to approximately 71 million customers in the postpaid, prepaid, and wholesale markets. It also provides wireless devices, including smartphones, tablets, and other mobile communication devices, as well as accessories that are manufactured by various suppliers.
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