Shares of T-Mobile US Inc. (NASDAQ:TMUS) traded today at $149.58, eclipsing its 52-week high. Approximately 332,000 shares have changed hands today, as compared to an average 30-day volume of 3.3 million shares.
T-Mobile US Inc. has overhead space with shares priced $149.10, or 12.4% below the average consensus analyst price target of $170.14.
Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile US. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere. T-Mobile has spent aggressively on low-frequency spectrum, well suited to broad coverage, and has substantially expanded its geographic footprint. This expansion, coupled with aggressive marketing and innovative offerings, produced rapid customer growth. With the Sprint acquisition, the firm’s scale now roughly matches its larger rivals: T-Mobile now serves 65 million postpaid and 21 million prepaid phone customers, equal to nearly 30% of the retail wireless market. In addition, the firm provides wholesale service to resellers like Tracfone.
Over the past year, T-Mobile US Inc. has traded in a range of $103.43 to $149.58 and is now at $149.10, 44% above that low.
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