Shares of Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) shot up 9.7% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $15.96 and last traded at $15.75. 319,632 shares traded hands during trading, a decline of 66% from the average session volume of 944,736 shares. The stock had previously closed at $14.36.
The Wireless communications provider reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.15. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. Telephone and Data Systems had a negative net margin of 9.36% and a positive return on equity of 0.62%. The business's revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS.
Telephone and Data Systems Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.84%. This is a boost from Telephone and Data Systems's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 14th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.61%.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a research note on Tuesday, March 26th.
Check Out Our Latest Stock Report on Telephone and Data Systems
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of Telephone and Data Systems by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider's stock worth $87,810,000 after buying an additional 774,892 shares during the period. Vanguard Group Inc. boosted its stake in shares of Telephone and Data Systems by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 12,248,615 shares of the Wireless communications provider's stock valued at $224,762,000 after purchasing an additional 565,371 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Telephone and Data Systems by 1,252.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 598,138 shares of the Wireless communications provider's stock worth $10,952,000 after purchasing an additional 553,921 shares during the last quarter. Segantii Capital Management Ltd bought a new position in Telephone and Data Systems during the 4th quarter valued at about $9,144,000. Finally, Norges Bank bought a new stake in Telephone and Data Systems during the fourth quarter worth about $8,205,000. 80.00% of the stock is owned by institutional investors.
Telephone and Data Systems Price Performance
The stock has a fifty day moving average of $15.61 and a two-hundred day moving average of $17.38. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -3.24 and a beta of 0.81. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84.
Telephone and Data Systems Company Profile
(
Get 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.
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