JPMorgan Chase & Co. Has Lowered Expectations for Telephone and Data Systems (NYSE:TDS) Stock Price

Telephone and Data Systems (NYSE:TDS - Free Report) had its target price lowered by JPMorgan Chase & Co. from $56.00 to $53.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the Wireless communications provider's stock.

Separately, Raymond James restated an "outperform" rating and issued a $47.00 target price (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

Telephone and Data Systems Trading Up 0.7%

NYSE TDS traded up $0.25 on Wednesday, reaching $34.42. 915,325 shares of the company were exchanged, compared to its average volume of 1,020,740. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The business's fifty day moving average price is $35.65 and its 200 day moving average price is $35.27. The stock has a market capitalization of $3.92 billion, a P/E ratio of -6.37 and a beta of 0.57. Telephone and Data Systems has a fifty-two week low of $17.90 and a fifty-two week high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $1.18 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 earnings per share. Analysts forecast that Telephone and Data Systems will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, June 16th. Telephone and Data Systems's dividend payout ratio is presently -15.24%.

Hedge Funds Weigh In On Telephone and Data Systems

A number of hedge funds have recently modified their holdings of the business. Third Point LLC grew its holdings in shares of Telephone and Data Systems by 12.7% during the 1st quarter. Third Point LLC now owns 6,760,000 shares of the Wireless communications provider's stock worth $261,882,000 after purchasing an additional 760,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Telephone and Data Systems by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,354,795 shares of the Wireless communications provider's stock worth $246,181,000 after purchasing an additional 107,501 shares during the period. American Century Companies Inc. grew its holdings in shares of Telephone and Data Systems by 7.5% during the 1st quarter. American Century Companies Inc. now owns 3,470,363 shares of the Wireless communications provider's stock worth $134,442,000 after purchasing an additional 240,795 shares during the period. Carronade Capital Management LP grew its holdings in shares of Telephone and Data Systems by 48.2% during the 1st quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider's stock worth $105,780,000 after purchasing an additional 888,108 shares during the period. Finally, Silver Point Capital L.P. grew its holdings in shares of Telephone and Data Systems by 19.8% during the 1st quarter. Silver Point Capital L.P. now owns 2,205,000 shares of the Wireless communications provider's stock worth $85,422,000 after purchasing an additional 365,000 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

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.