Zacks: Brokerages Anticipate United States Cellular Corp (NYSE:USM) Will Post Earnings of $0.38 Per Share

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Equities analysts predict that United States Cellular Corp (NYSE:USM) will report $0.38 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for United States Cellular’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.25. United States Cellular posted earnings per share of $0.41 during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.3%. The company is expected to announce its next quarterly earnings report on Friday, November 1st.

According to Zacks, analysts expect that United States Cellular will report full-year earnings of $1.50 per share for the current year, with EPS estimates ranging from $1.19 to $1.79. For the next year, analysts anticipate that the firm will report earnings of $1.60 per share, with EPS estimates ranging from $1.17 to $2.36. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover United States Cellular.

United States Cellular (NYSE:USM) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.06). The company had revenue of $973.00 million during the quarter, compared to analyst estimates of $1.01 billion. United States Cellular had a net margin of 3.56% and a return on equity of 3.46%. During the same quarter last year, the company earned $0.56 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year.

USM has been the subject of several recent research reports. B. Riley reduced their target price on shares of United States Cellular from $50.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Morgan Stanley upgraded shares of United States Cellular from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $44.00 to $64.50 in a report on Tuesday, June 18th. JPMorgan Chase & Co. raised shares of United States Cellular from an “underweight” rating to a “neutral” rating and set a $46.00 price target on the stock in a research report on Monday, August 5th. ValuEngine lowered shares of United States Cellular from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co dropped their price target on shares of United States Cellular from $50.00 to $40.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $51.58.

In other news, insider Kenneth R. Meyers sold 30,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $47.07, for a total value of $1,412,100.00. Following the transaction, the insider now directly owns 99,726 shares of the company’s stock, valued at $4,694,102.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth R. Meyers sold 16,045 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $47.26, for a total transaction of $758,286.70. Following the completion of the transaction, the chief executive officer now directly owns 99,726 shares in the company, valued at $4,713,050.76. The disclosure for this sale can be found here. Insiders have sold 79,357 shares of company stock worth $3,377,164 over the last ninety days. Insiders own 0.62% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of United States Cellular in the second quarter valued at about $35,000. Advisor Group Inc. increased its position in United States Cellular by 68.5% during the second quarter. Advisor Group Inc. now owns 868 shares of the Wireless communications provider’s stock worth $39,000 after acquiring an additional 353 shares during the period. Meeder Asset Management Inc. bought a new position in United States Cellular during the second quarter worth about $41,000. Twin Tree Management LP bought a new position in United States Cellular during the first quarter worth about $53,000. Finally, Trust Co. of Vermont bought a new position in United States Cellular during the second quarter worth about $54,000. 18.18% of the stock is currently owned by institutional investors.

USM traded up $0.45 during trading hours on Wednesday, hitting $37.61. 155,947 shares of the company’s stock were exchanged, compared to its average volume of 164,907. United States Cellular has a 1-year low of $33.54 and a 1-year high of $59.74. The stock’s 50-day moving average is $36.59 and its two-hundred day moving average is $44.23. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 24.75 and a beta of 0.83. The company has a quick ratio of 2.13, a current ratio of 2.32 and a debt-to-equity ratio of 0.59.

About United States Cellular

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers postpaid and prepaid service plans with voice, messaging, and data usage option services; and smartphone messaging, data, and Internet services, which allow the customer to access the Web and social network sites, e-mail, text, picture, and video messaging, as well as to utilize GPS navigation, and browse and download various applications.

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