Telephone and Data Systems (NYSE:TDS – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.
Several other research firms also recently weighed in on TDS. JPMorgan Chase & Co. decreased their price target on shares of Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. 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 note on Thursday, August 13th. Weiss Ratings raised Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Telephone and Data Systems presently has an average rating of “Hold” and an average target price of $47.50.
View Our Latest Research Report on Telephone and Data Systems
Telephone and Data Systems Price Performance
Telephone and Data Systems (NYSE:TDS – Get Free Report) last posted 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. The company had revenue of $309.28 million for the quarter, compared to the consensus estimate of $315.78 million. Telephone and Data Systems had a net margin of 33.20% and a return on equity of 11.97%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Equities research analysts expect that Telephone and Data Systems will post -0.24 EPS for the current year.
Hedge Funds Weigh In On Telephone and Data Systems
Hedge funds have recently modified their holdings of the company. Knighthead Capital Management LLC purchased a new position in shares of Telephone and Data Systems during the 1st quarter valued at $18,764,000. Carronade Capital Management LP raised its holdings in Telephone and Data Systems by 10.0% during the first quarter. Carronade Capital Management LP now owns 4,623,934 shares of the Wireless communications provider’s stock valued at $194,668,000 after acquiring an additional 420,340 shares during the period. Rokos Capital Management LLP bought a new stake in Telephone and Data Systems during the first quarter valued at about $21,040,000. Dimensional Fund Advisors LP lifted its position in shares of Telephone and Data Systems by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,482,147 shares of the Wireless communications provider’s stock valued at $272,898,000 after acquiring an additional 90,097 shares in the last quarter. Finally, 140 Summer Partners LP lifted its position in shares of Telephone and Data Systems by 5.3% in the fourth quarter. 140 Summer Partners LP now owns 1,315,306 shares of the Wireless communications provider’s stock valued at $53,928,000 after acquiring an additional 66,148 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.
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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