Share Buyback Plan Approved by T-Mobile US (TMUS)

T-Mobile US (NASDAQ:TMUS) declared that its Board of Directors has initiated a share buyback plan, which authorizes the company to buyback $1.50 billion in outstanding shares on Wednesday, December 6th, EventVestor reports. This buyback authorization authorizes the Wireless communications provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Shares of T-Mobile US (NASDAQ:TMUS) traded down $0.84 during midday trading on Friday, hitting $63.51. 1,844,091 shares of the company’s stock traded hands, compared to its average volume of 3,919,579. T-Mobile US has a 52 week low of $54.60 and a 52 week high of $68.88. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. The stock has a market cap of $53,536.89, a price-to-earnings ratio of 24.91, a P/E/G ratio of 1.20 and a beta of 0.29.

T-Mobile US (NASDAQ:TMUS) last released its quarterly earnings data on Monday, October 23rd. The Wireless communications provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.46 by $0.17. The business had revenue of $10.02 billion for the quarter, compared to analyst estimates of $10.01 billion. T-Mobile US had a net margin of 5.55% and a return on equity of 9.99%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. equities research analysts forecast that T-Mobile US will post 2.42 earnings per share for the current year.

A number of analysts recently issued reports on TMUS shares. Deutsche Bank increased their price objective on shares of T-Mobile US to $72.00 and gave the company a “buy” rating in a report on Monday, December 11th. Bank of America increased their target price on shares of T-Mobile US from $34.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, October 24th. KeyCorp set a $72.00 price objective on shares of T-Mobile US and gave the stock a “buy” rating in a research report on Wednesday, October 11th. UBS Group reiterated a “buy” rating and set a $70.00 price target (down from $80.00) on shares of T-Mobile US in a research report on Monday, November 6th. Finally, Robert W. Baird reiterated a “hold” rating and set a $70.00 price target on shares of T-Mobile US in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $69.70.

In related news, CFO J Braxton Carter II sold 15,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.97, for a total transaction of $944,550.00. Following the completion of the sale, the chief financial officer now owns 163,688 shares of the company’s stock, valued at approximately $10,307,433.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter A. Ewens sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $62.95, for a total transaction of $629,500.00. Following the completion of the sale, the executive vice president now directly owns 166,434 shares of the company’s stock, valued at approximately $10,477,020.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock worth $2,515,750. 0.29% of the stock is owned by insiders.

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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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