Telephone and Data Systems (NYSE:TDS – Free Report) had its target price cut by JPMorgan Chase & Co. from $51.00 to $48.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the Wireless communications provider’s stock.
TDS has been the subject of a number of other research reports. Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Zacks Research upgraded shares of Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Raymond James Financial downgraded shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Citigroup dropped their target price on shares of 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. Finally, Weiss Ratings raised shares of Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Telephone and Data Systems has a consensus rating of “Moderate Buy” and an average target price of $47.50.
Get Our Latest Analysis on TDS
Telephone and Data Systems Trading Down 2.6%
Telephone and Data Systems (NYSE:TDS – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The Wireless communications provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $2.15. Telephone and Data Systems had a return on equity of 11.97% and a net margin of 33.20%.The company had revenue of $309.28 million for the quarter, compared to the consensus estimate of $315.78 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Telephone and Data Systems will post -0.24 earnings per share for the current fiscal year.
Telephone and Data Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued 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 is Tuesday, September 15th. Telephone and Data Systems’s payout ratio is presently 5.33%.
Hedge Funds Weigh In On Telephone and Data Systems
Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors lifted its stake in Telephone and Data Systems by 3.8% in the fourth quarter. Captrust Financial Advisors now owns 6,026 shares of the Wireless communications provider’s stock worth $247,000 after purchasing an additional 220 shares during the last quarter. Salomon & Ludwin LLC grew its stake in shares of Telephone and Data Systems by 51.3% during the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock valued at $28,000 after buying an additional 231 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Telephone and Data Systems by 2.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider’s stock valued at $402,000 after buying an additional 232 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Telephone and Data Systems by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 14,362 shares of the Wireless communications provider’s stock valued at $589,000 after buying an additional 233 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Telephone and Data Systems by 4.3% in the fourth quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock worth $241,000 after buying an additional 240 shares during the period. Institutional investors own 80.00% of the company’s stock.
Telephone and Data Systems Company Profile
Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.
TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.
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