T-Mobile US (NASDAQ:TMUS) Given New $260.00 Price Target at Royal Bank of Canada

T-Mobile US (NASDAQ:TMUS - Free Report) had its target price boosted by Royal Bank of Canada from $245.00 to $260.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a sector perform rating on the Wireless communications provider's stock.

Other analysts have also recently issued reports about the stock. HSBC cut shares of T-Mobile US from a "buy" rating to a "hold" rating and set a $270.00 target price for the company. in a report on Wednesday, March 5th. Evercore ISI upgraded T-Mobile US to a "strong-buy" rating in a report on Thursday, January 23rd. Scotiabank upped their target price on T-Mobile US from $247.00 to $275.00 and gave the company a "sector perform" rating in a report on Monday, March 3rd. Sanford C. Bernstein initiated coverage on T-Mobile US in a research report on Tuesday, December 10th. They issued a "market perform" rating and a $265.00 price target for the company. Finally, Morgan Stanley started coverage on T-Mobile US in a report on Monday, December 16th. They set an "overweight" rating and a $280.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $255.80.

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T-Mobile US Price Performance

Shares of TMUS traded down $0.21 during midday trading on Friday, reaching $258.75. The stock had a trading volume of 2,987,882 shares, compared to its average volume of 3,977,317. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market capitalization of $295.43 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.55 and a beta of 0.64. The firm's 50 day moving average price is $249.99 and its 200-day moving average price is $231.69. T-Mobile US has a 52 week low of $159.14 and a 52 week high of $276.49.

T-Mobile US (NASDAQ:TMUS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The Wireless communications provider reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.42. T-Mobile US had a net margin of 13.93% and a return on equity of 18.09%. On average, analysts forecast that T-Mobile US will post 10.37 earnings per share for the current fiscal year.

T-Mobile US Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 22nd. Shareholders of record on Friday, May 30th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $3.52 annualized dividend and a yield of 1.36%. T-Mobile US's dividend payout ratio (DPR) is presently 36.40%.

Insider Activity

In related news, Director Srikant M. Datar sold 730 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $263.00, for a total value of $191,990.00. Following the transaction, the director now directly owns 3,291 shares in the company, valued at approximately $865,533. This trade represents a 18.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On T-Mobile US

A number of hedge funds have recently bought and sold shares of TMUS. Norges Bank acquired a new position in shares of T-Mobile US during the 4th quarter worth about $1,802,393,000. Canada Pension Plan Investment Board increased its position in T-Mobile US by 85.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,025,096 shares of the Wireless communications provider's stock worth $1,329,919,000 after buying an additional 2,777,657 shares during the period. Raymond James Financial Inc. acquired a new position in shares of T-Mobile US during the fourth quarter worth approximately $452,721,000. Capital International Investors boosted its position in shares of T-Mobile US by 36.2% in the fourth quarter. Capital International Investors now owns 6,525,744 shares of the Wireless communications provider's stock valued at $1,440,424,000 after acquiring an additional 1,734,998 shares during the period. Finally, FMR LLC grew its stake in shares of T-Mobile US by 13.4% in the third quarter. FMR LLC now owns 12,893,770 shares of the Wireless communications provider's stock worth $2,660,758,000 after acquiring an additional 1,522,394 shares during the last quarter. 42.49% of the stock is currently owned by institutional investors.

About T-Mobile US

T-Mobile US, Inc, together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging, and data services to customers in the postpaid, prepaid, and wholesale and other services. It also provides wireless devices, including smartphones, wearables, tablets, home broadband routers, and other mobile communication devices, as well as wireless devices and accessories; financing through equipment installment plans; reinsurance for device insurance policies and extended warranty contracts; leasing through JUMP! On Demand; and High Speed Internet services.