Citigroup Has Lowered Expectations for Telephone and Data Systems (NYSE:TDS) Stock Price

Key Points

• Citigroup lowered its price target for Telephone and Data Systems from $50 to $47 while maintaining a “buy” rating, implying approximately 34% upside from the stock’s $35.06 price.
• Analyst sentiment remains generally positive: TDS has a consensus “Moderate Buy” rating and an average price target of $47, although Raymond James downgraded the stock to “market perform.”
• TDS shares have traded between $31.51 and $49.12 over the past year, with institutional investors owning approximately 80% of the company.

Telephone and Data Systems (NYSE:TDS - Get Free Report) had its price objective lowered by Citigroup from $50.00 to $47.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the Wireless communications provider's stock. Citigroup's price target indicates a potential upside of 34.05% from the company's current price.

Several other equities research analysts also recently commented on TDS. Raymond James Financial downgraded shares of Telephone and Data Systems from an "outperform" rating to a "market perform" rating in a research report on Monday, May 11th. Wall Street Zen raised shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. 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. Finally, Zacks Research upgraded shares of Telephone and Data Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.00.

Telephone and Data Systems Price Performance

Telephone and Data Systems stock traded up $1.89 during trading hours on Thursday, reaching $35.06. 441,415 shares of the stock were exchanged, compared to its average volume of 1,024,727. The company has a current ratio of 3.43, a quick ratio of 3.42 and a debt-to-equity ratio of 0.16. Telephone and Data Systems has a twelve month low of $31.51 and a twelve month high of $49.12. The company has a market cap of $3.99 billion, a P/E ratio of 11.69 and a beta of 0.32. The stock has a 50 day moving average of $36.17 and a two-hundred day moving average of $41.18.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TDS. Captrust Financial Advisors raised its holdings in shares of Telephone and Data Systems by 3.8% during the 4th quarter. Captrust Financial Advisors now owns 6,026 shares of the Wireless communications provider's stock valued at $247,000 after buying an additional 220 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in Telephone and Data Systems by 51.3% in the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider's stock worth $28,000 after buying an additional 231 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Telephone and Data Systems by 2.4% in the fourth quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider's stock worth $402,000 after buying an additional 232 shares in the last quarter. Maryland State Retirement & Pension System grew its position in 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 acquiring an additional 233 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Telephone and Data Systems by 4.3% during the fourth quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider's stock worth $241,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company's stock.

About Telephone and Data Systems

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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