Telephone and Data Systems (NYSE:TDS) Announces Quarterly Earnings Results

Telephone and Data Systems (NYSE:TDS) issued its quarterly earnings results on Friday. The Wireless communications provider reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.13, Zacks reports. The business had revenue of $308.52 million for the quarter, compared to the consensus estimate of $1.16 billion. Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.Telephone and Data Systems’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.73) earnings per share.

Telephone and Data Systems Price Performance

Shares of NYSE TDS traded down $0.72 during midday trading on Friday, hitting $37.78. 1,415,280 shares of the company’s stock were exchanged, compared to its average volume of 1,035,253. The business’s fifty day moving average price is $38.77 and its two-hundred day moving average price is $37.23. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -38.94 and a beta of 0.35. Telephone and Data Systems has a 12-month low of $30.38 and a 12-month high of $42.74. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85.

Insider Activity at Telephone and Data Systems

In other Telephone and Data Systems news, CAO Anita J. Kroll sold 8,608 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $39.09, for a total transaction of $336,486.72. Following the completion of the sale, the chief accounting officer directly owned 17,087 shares in the company, valued at $667,930.83. The trade was a 33.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joseph R. Hanley sold 68,759 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.16, for a total transaction of $2,623,843.44. Following the completion of the transaction, the senior vice president owned 60,473 shares of the company’s stock, valued at approximately $2,307,649.68. The trade was a 53.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 276,650 shares of company stock worth $10,690,789. 14.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new stake in Telephone and Data Systems in the 2nd quarter valued at about $6,698,000. Hudson Bay Capital Management LP grew its stake in shares of Telephone and Data Systems by 24.8% during the second quarter. Hudson Bay Capital Management LP now owns 500,000 shares of the Wireless communications provider’s stock worth $17,790,000 after purchasing an additional 99,380 shares in the last quarter. First Trust Advisors LP boosted its holdings in Telephone and Data Systems by 86.6% in the second quarter. First Trust Advisors LP now owns 141,985 shares of the Wireless communications provider’s stock valued at $5,052,000 after purchasing an additional 65,900 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Telephone and Data Systems by 8.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 336,239 shares of the Wireless communications provider’s stock worth $11,963,000 after acquiring an additional 26,927 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Telephone and Data Systems by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,335,759 shares of the Wireless communications provider’s stock worth $47,526,000 after buying an additional 26,169 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TDS shares. Raymond James Financial raised their price objective on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. Weiss Ratings downgraded Telephone and Data Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Zacks Research upgraded Telephone and Data Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Telephone and Data Systems has an average rating of “Hold” and an average price target of $52.00.

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.