Citigroup has raised its target price by $ 1 on United States Cellular Corporation (NYSE:USM) to $ 46.00 from the previous mark of $ 45.00, suggesting the upside potential of more than 25.48 percent from the existing levels. However, the brokerage has maintained its Buy rating on the stock, Benzinga reported.
Shares of United States Cellular Corporation traded up $ 0.03 or 0.08 percent on Monday, reaching $ 36.69 with volume of 33.90 thousand shares. The stock opened positive for the day at $ 37.00, after closing the previous day trading at $ 36.66. According to the previous trading day, closing price of $ 36.66, representing a 53.32 % increase from the 52 week low of $ 23.91 and a 8.42 % decrease over the 52 week high of $ 40.03.
With respect to the key metrics, United States Cellular Corporation stock has advanced $ 5.31 or 17.00 percent, reaching $ 31.38 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 3.51 or 11.00 percent, before arriving at $ 33.18 during the SMA50-day period.
United States Cellular Corporation recently reported second quarter financial results on August 6, 2020, after market close, the Chicago based company recorded income for the second quarter of $ 0.78 per share, from the revenue of $ 973.00 million. The quarterly earnings enlarged 122.86 percent while revenues compared with the same quarter last year.
According to street consensus, USM was expected to report 2Q20 income of $ 0.26 per share from revenue of $ 900.74 million. The bottom line results beat street analysts by $ 0.52 or 200.00 percent, at the same time, top line results outshined analysts by $ 72.26 million or 8.02 percent.
Moving ahead, the analysts surveyed by Thomson Reuters are predicting, United States Cellular Corporation to report 3Q20 income of $ 0.33 per share from revenue of $ 993.43 million. For the full year, analysts anticipate top line of $ 3971.88 million, while looking forward to income of $ 1.78 per share bottom line.
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. It also provides roaming services; machine to machine solutions and software applications in the areas of monitor and control, business automation/operations, communication, and asset management; wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers; and accessories comprising wireless basics, such as cases, screen protectors, chargers, and memory cards.
