Telephone and Data Systems, Inc. (NYSE:TDS – Get Free Report)’s share price dropped 5.1% during mid-day trading on Wednesday. The company traded as low as $34.31 and last traded at $33.8760. 122,213 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,169,688 shares. The stock had previously closed at $35.69.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Telephone and Data Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Citigroup reduced their price objective on Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Zacks Research cut Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, JPMorgan Chase & Co. dropped their price target on Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.50.
Check Out Our Latest Stock Analysis on TDS
Telephone and Data Systems Trading Down 1.6%
The company has a debt-to-equity ratio of 0.15, a current ratio of 3.82 and a quick ratio of 3.81. The business’s fifty day moving average price is $35.20 and its 200 day moving average price is $39.62. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 11.31 and a beta of 0.32.
Telephone and Data Systems (NYSE:TDS – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The Wireless communications provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $0.09 by $2.15. Telephone and Data Systems had a net margin of 33.20% and a return on equity of 11.97%. The firm had revenue of $309.28 million for the quarter, compared to the consensus estimate of $315.78 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. Research analysts anticipate that Telephone and Data Systems, Inc. will post -0.24 earnings per share for the current fiscal year.
Telephone and Data Systems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 15th. Telephone and Data Systems’s dividend payout ratio is currently 5.33%.
Institutional Investors Weigh In On Telephone and Data Systems
Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Telephone and Data Systems by 29.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,085 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 245 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Telephone and Data Systems by 446.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,340 shares of the Wireless communications provider’s stock worth $50,000 after acquiring an additional 1,095 shares during the last quarter. Nykredit A S acquired a new stake in shares of Telephone and Data Systems during the 2nd quarter worth approximately $59,000. Versant Capital Management Inc increased its position in shares of Telephone and Data Systems by 16.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,730 shares of the Wireless communications provider’s stock worth $101,000 after purchasing an additional 383 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Telephone and Data Systems by 17.1% during the first quarter. Parallel Advisors LLC now owns 3,307 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 484 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.
About Telephone and Data Systems
Telephone and Data Systems, Inc (NYSE:TDS) is a telecommunications holding company that provides broadband and communications services in communities across the United States. Its principal operating business is TDS Telecom, which serves residential, business and wholesale customers with internet access, fiber-optic and other broadband connections, voice services, video entertainment and related communications solutions.
TDS Telecom focuses on expanding high-speed broadband availability in rural and suburban markets.
Featured Articles
- Five stocks we like better than Telephone and Data Systems
- SaaS-Pocalypse II: Is ServiceNow’s Sell-Off Another Buying Opportunity?
- Robinhood Stock Is Down Nearly 37%—So Why Is Wall Street Still So Bullish?
- 5 Stocks to Buy in November: Bargains Worth Giving Thanks For
- Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
Receive News & Ratings for Telephone and Data Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telephone and Data Systems and related companies with MarketBeat.com's FREE daily email newsletter.
