Wall Street analysts expect Telephone and Data Systems, Inc. (NYSE:TDS) to post earnings per share of $0.27 for the current quarter, according to Zacks. Two analysts have issued estimates for Telephone and Data Systems' earnings, with estimates ranging from $0.24 to $0.30. Telephone and Data Systems reported earnings per share of $0.15 during the same quarter last year, which would indicate a positive year over year growth rate of 80%. The business is scheduled to issue its next earnings report on Thursday, October 29th.
According to Zacks, analysts expect that Telephone and Data Systems will report full year earnings of $1.50 per share for the current year, with EPS estimates ranging from $1.46 to $1.54. For the next fiscal year, analysts expect that the company will post earnings of $0.97 per share, with EPS estimates ranging from $0.60 to $1.40. Zacks' EPS calculations are a mean average based on a survey of sell-side analysts that follow Telephone and Data Systems.
Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.24 by $0.32. Telephone and Data Systems had a return on equity of 3.02% and a net margin of 3.17%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year.
TDS has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Telephone and Data Systems from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Morgan Stanley reissued a "buy" rating on shares of Telephone and Data Systems in a research report on Wednesday, September 9th. Raymond James raised their price objective on Telephone and Data Systems from $29.00 to $32.00 and gave the stock a "strong-buy" rating in a research report on Monday, August 10th. ValuEngine downgraded Telephone and Data Systems from a "hold" rating to a "sell" rating in a research report on Friday, August 7th. Finally, Zacks Investment Research downgraded Telephone and Data Systems from a "strong-buy" rating to a "sell" rating and set a $21.00 price objective for the company. in a research report on Tuesday, August 4th. Two analysts have rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. The company presently has an average rating of "Buy" and an average price target of $29.92.
Shares of NYSE TDS traded down $0.19 during trading on Friday, hitting $18.06. 460,820 shares of the company were exchanged, compared to its average volume of 787,196. Telephone and Data Systems has a 12-month low of $14.05 and a 12-month high of $26.84. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.19 and a current ratio of 2.37. The company has a fifty day moving average price of $20.33 and a 200-day moving average price of $19.95. The firm has a market capitalization of $2.06 billion, a PE ratio of 12.90 and a beta of 1.18.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Tuesday, September 15th. Telephone and Data Systems's dividend payout ratio is currently 66.02%.
In other Telephone and Data Systems news, Director Clarence A. Davis sold 3,000 shares of Telephone and Data Systems stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $23.72, for a total value of $71,160.00. Following the completion of the transaction, the director now directly owns 12,305 shares of the company's stock, valued at approximately $291,874.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 14.46% of the company's stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Telephone and Data Systems in the 3rd quarter valued at about $319,000. Envestnet Asset Management Inc. boosted its stake in shares of Telephone and Data Systems by 3.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 55,586 shares of the Wireless communications provider's stock valued at $1,025,000 after buying an additional 1,888 shares during the period. Cottage Street Advisors LLC purchased a new position in shares of Telephone and Data Systems in the 3rd quarter valued at about $326,000. Two Sigma Advisers LP boosted its stake in shares of Telephone and Data Systems by 20.1% in the 2nd quarter. Two Sigma Advisers LP now owns 293,800 shares of the Wireless communications provider's stock valued at $5,841,000 after buying an additional 49,200 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Telephone and Data Systems by 32.6% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 83,300 shares of the Wireless communications provider's stock valued at $1,655,000 after buying an additional 20,488 shares during the period. Institutional investors and hedge funds own 79.93% of the company's stock.
Telephone and Data Systems Company Profile
Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and business customers located in its service territories; national plans with voice, messaging, and data usage options; and advanced wireless solutions, such as machine-to-machine solution and software applications for various categories of monitor and control, business automation/operations, communication, and asset management.
Further Reading: What is the Ex-Dividend Date in Investing?
Get a free copy of the Zacks research report on Telephone and Data Systems (TDS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
6 Gambling Stocks Ready For a Rebound
If you didn’t believe that gambling stocks are a worthwhile investment, consider this. The Business Research Company projects the global gambling market to reach $565.4 billion through 2022. That assumes that the industry will continue growing at is annual rate of 5.9%.
The gambling industry is composed of many segments. There are casinos, lotteries, and the now legalized segment of sports betting. But gambling is also broken down into offline gambling, online gambling and even virtual reality gambling. In fact, virtual reality gambling is projected to grow at an annual rate of 21.5% until 2022.
But virtual reality is only one of a number of emerging technologies that are changing the “traditional” face of the gambling industry. There are now hybrid games – the combination of online and land-based games and even augmented reality games.
And don’t forget about fantasy sports. Fantasy sports has created an entire industry and it wasn’t created for one person to have bragging rights over their buddies. Fantasy sports is a multi-million industry.
But like many other segments of the economy, gambling stocks were hit hard by the Covid-19 pandemic. Not only were casinos closed, but live sports were also put on hold. This dried up many of the traditional avenues of gambling, and gambling stocks sank lower as a result.
However, the global economy is starting to re-open. And while it was thought that casinos would be one of the last to come back, there are casinos that are starting to re-open. And, it’s becoming more and more likely that there will be live sports (likely without fans initially) sooner rather than later. And that will open up the fantasy sports market.
These stocks tend to move quickly. So now is the time to take action. That’s why we’ve created this special presentation that highlights 6 gambling stocks that are ready for a rebound. The sell-off was real, but so will the comeback. And when it does, these stocks may cost much more than they do now.
View the "6 Gambling Stocks Ready For a Rebound".