Scotiabank Lowers T-Mobile US Outlook Amid Mixed Investor Sentiment
The global financial landscape shifts as Scotiabank revises its stance on T-Mobile US (LSE:0R2L) from Sector Outperform to Sector Perform as of October 18, 2024.
Analysts Predict Minor Decline in Stock Price
The average one-year price forecast for T-Mobile US, as of September 25, 2024, stands at 217.43 GBX/share. Predictions vary widely, with estimates ranging from a low of 144.53 GBX to a high of 272.26 GBX. This average indicates a slight expected drop of 0.73% from its most recent closing price of 219.02 GBX/share.
Solid Revenue Growth Expected
T-Mobile US is projected to generate annual revenue of 85,315MM, reflecting a healthy growth rate of 7.86%. Furthermore, the expected annual non-GAAP EPS is estimated at 9.79.
Institutional Investment Trends
Currently, 2,507 funds or institutions hold positions in T-Mobile US, marking an increase of 82 owners or 3.38% from the previous quarter. The average portfolio weight across these funds dedicated to 0R2L is 0.50%, up by 0.83%. Over the last three months, total institutional shares owned rose by 2.70%, totaling 579,966K shares.
Softbank Group currently possesses 85,361K shares, constituting 7.32% ownership of T-Mobile US. This marks a decrease from the 92,090K shares reported in a previous filing, representing a drop of 7.88%. Additionally, the firm has cut its portfolio allocation in 0R2L by 0.66% in the last quarter.
Price T Rowe Associates holds 24,311K shares, amounting to 2.08% ownership. This is a significant decrease from the previous quarter’s 30,441K shares, reflecting a drop of 25.21%. Their allocation in 0R2L was reduced by 15.84% over the last quarter.
Invesco QQQ Trust, Series 1 has increased its holdings with 22,570K shares, representing 1.93% ownership. Their prior filing cited 22,247K shares, indicating a small increase of 1.43%. However, the firm reduced its portfolio allocation in 0R2L by 1.43% in the last quarter.
Vanguard Total Stock Market Index Fund Investor Shares holds 16,660K shares, or 1.43% of the company. This shows a slight decrease from the earlier reported 16,763K shares, down by 0.61%, yet it has increased their portfolio allocation by 4.32% in the last quarter.
Norges Bank revealed a substantial increase in its holdings, acquiring 15,146K shares after previously having none, which translates to a complete 100.00% increase.
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This article originally appeared on Fintel.
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