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Vestcor Inc Takes Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Telephone and Data Systems logo with Utilities background

Key Points

  • Vestcor Inc acquired a new stake in Telephone and Data Systems, Inc. (NYSE:TDS), purchasing 100,000 shares worth approximately $3.87 million, representing around 0.09% of the company's stock.
  • Telephone and Data Systems reported a quarterly loss of ($0.09) earnings per share, missing estimates by $0.07, with revenue declining by 8.6% year-over-year.
  • The company recently declared a quarterly dividend of $0.04, yielding an annualized total of $0.16, with a payout ratio currently at -15.24%.
  • Five stocks we like better than Telephone and Data Systems.

Vestcor Inc bought a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 100,000 shares of the Wireless communications provider's stock, valued at approximately $3,874,000. Vestcor Inc owned about 0.09% of Telephone and Data Systems at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Third Point LLC increased its holdings in 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 worth $204,660,000 after buying an additional 3,125,000 shares during the last quarter. Gabelli Funds LLC increased its holdings in 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 worth $64,801,000 after buying an additional 20,721 shares during the last quarter. Carronade Capital Management LP acquired a new position in Telephone and Data Systems during the fourth quarter worth $62,845,000. Silver Point Capital L.P. increased its holdings in 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 worth $62,762,000 after buying an additional 590,000 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Telephone and Data Systems by 0.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,465,935 shares of the Wireless communications provider's stock worth $50,003,000 after buying an additional 6,914 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $49.00 price objective (up from $47.00) on shares of Telephone and Data Systems in a report on Friday, July 25th.

Check Out Our Latest Report on TDS

Telephone and Data Systems Stock Performance

Shares of NYSE:TDS traded down $1.02 on Friday, hitting $38.02. The company had a trading volume of 1,488,797 shares, compared to its average volume of 1,026,977. Telephone and Data Systems, Inc. has a 1-year low of $17.90 and a 1-year high of $42.74. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -36.21 and a beta of 0.51. The stock has a 50 day moving average price of $36.06 and a 200 day moving average price of $36.06. The company has a current ratio of 1.74, a quick ratio of 1.55 and a debt-to-equity ratio of 0.85.

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

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 16th. Telephone and Data Systems's payout ratio is presently -15.24%.

Telephone and Data Systems Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Telephone and Data Systems (NYSE:TDS)

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