Telephone and Data Systems, Inc. (NYSE:TDS) Stock Position Lifted by Silver Point Capital L.P.

Silver Point Capital L.P. lifted its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 47.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,840,000 shares of the Wireless communications provider’s stock after purchasing an additional 590,000 shares during the period. Telephone and Data Systems accounts for about 5.3% of Silver Point Capital L.P.’s investment portfolio, making the stock its 4th biggest holding. Silver Point Capital L.P.’s holdings in Telephone and Data Systems were worth $62,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Third Point LLC lifted its holdings in Telephone and Data Systems by 108.7% in the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider’s stock worth $204,660,000 after buying an additional 3,125,000 shares during the period. Carronade Capital Management LP purchased a new position in shares of Telephone and Data Systems in the 4th quarter valued at approximately $62,845,000. Norges Bank bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at approximately $23,776,000. Hudson Bay Capital Management LP bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at approximately $10,233,000. Finally, CastleKnight Management LP purchased a new stake in Telephone and Data Systems in the fourth quarter worth $9,459,000. Institutional investors own 80.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TDS. JPMorgan Chase & Co. raised their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Raymond James reiterated an “outperform” rating and issued a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th.

Telephone and Data Systems Stock Performance

Shares of TDS opened at $34.15 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock has a market cap of $3.89 billion, a P/E ratio of -6.32 and a beta of 0.57. The business’s 50 day moving average price is $35.97 and its 200-day moving average price is $34.93. Telephone and Data Systems, Inc. has a 52 week low of $16.64 and a 52 week high of $41.21.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s payout ratio is -15.24%.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.