T-Mobile US (TMUS) to Buyback $1.50 billion in Outstanding Stock
T-Mobile US (NASDAQ:TMUS) declared that its board has approved a share buyback program, which authorizes the company to buyback $1.50 billion in shares on Wednesday, December 6th, EventVestor reports. This buyback authorization authorizes the Wireless communications provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
T-Mobile US (NASDAQ:TMUS) opened at $63.07 on Tuesday. The company has a market capitalization of $52,031.04, a PE ratio of 28.30, a P/E/G ratio of 1.17 and a beta of 0.29. T-Mobile US has a 52 week low of $54.60 and a 52 week high of $68.88. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.80.
T-Mobile US (NASDAQ:TMUS) last posted its quarterly earnings results on Monday, October 23rd. The Wireless communications provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.17. The business had revenue of $10.02 billion during the quarter, compared to the consensus estimate of $10.01 billion. T-Mobile US had a return on equity of 9.99% and a net margin of 5.55%. T-Mobile US’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. equities analysts expect that T-Mobile US will post 2.41 EPS for the current year.
TMUS has been the subject of a number of research analyst reports. 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 reaffirmed a “buy” rating and set a $70.00 price objective (down from $80.00) on shares of T-Mobile US in a research report on Monday, November 6th. BidaskClub cut shares of T-Mobile US from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 9th. Cowen reaffirmed a “buy” rating and set a $70.00 price objective on shares of T-Mobile US in a research report on Friday, August 25th. Finally, Deutsche Bank reduced their price objective on shares of T-Mobile US from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. T-Mobile US currently has an average rating of “Buy” and an average price target of $69.62.
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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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