Croban Acquires New Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Croban bought a new position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,368 shares of the Wireless communications provider's stock, valued at approximately $1,447,000. Telephone and Data Systems accounts for 1.3% of Croban's investment portfolio, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDS. Third Point LLC lifted its holdings in shares of Telephone and Data Systems by 108.7% during the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock valued at $204,660,000 after acquiring an additional 3,125,000 shares during the period. American Century Companies Inc. lifted its holdings in shares of Telephone and Data Systems by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock valued at $110,161,000 after acquiring an additional 203,897 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Telephone and Data Systems by 1.1% during the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider's stock valued at $64,801,000 after acquiring an additional 20,721 shares during the period. Carronade Capital Management LP bought a new position in shares of Telephone and Data Systems during the fourth quarter valued at $62,845,000. Finally, Silver Point Capital L.P. lifted its holdings in shares of Telephone and Data Systems by 47.2% during the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock valued at $62,762,000 after acquiring an additional 590,000 shares during the period. 80.00% of the stock is owned by institutional investors.

Telephone and Data Systems Stock Performance

NYSE:TDS remained flat at $39.47 on Friday. The company's stock had a trading volume of 1,387,254 shares, compared to its average volume of 986,122. The firm has a market capitalization of $4.50 billion, a PE ratio of -37.59 and a beta of 0.51. Telephone and Data Systems, Inc. has a 12-month low of $17.90 and a 12-month high of $41.21. The company has a quick ratio of 1.55, a current ratio of 1.74 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average of $34.61 and a 200-day moving average of $35.55.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 1.03%. Telephone and Data Systems's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, equities research analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $0.04 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.41%. Telephone and Data Systems's dividend payout ratio is presently -15.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TDS shares. Wall Street Zen lowered Telephone and Data Systems from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Raymond James Financial restated an "outperform" rating and issued a $47.00 target price (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their price objective on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th.

About Telephone and Data Systems

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.