Telephone and Data Systems, Inc. (NYSE:TDS) Short Interest Down 13.7% in May

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 5,470,000 shares, a decrease of 13.7% from the April 30th total of 6,340,000 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is currently 5.2 days.

Wall Street Analyst Weigh In

TDS has been the subject of a number of research reports. Raymond James reissued an "outperform" rating and issued a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. Wall Street Zen downgraded shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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.

Hedge Funds Weigh In On Telephone and Data Systems

Several institutional investors have recently added to or reduced their stakes in TDS. Third Point LLC lifted its holdings in Telephone and Data Systems by 108.7% during the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock valued at $204,660,000 after purchasing an additional 3,125,000 shares during the last quarter. Carronade Capital Management LP bought a new position in Telephone and Data Systems during the 4th quarter valued at about $62,845,000. Nuveen LLC bought a new position in Telephone and Data Systems during the 1st quarter valued at about $43,429,000. Norges Bank bought a new position in Telephone and Data Systems during the 4th quarter valued at about $23,776,000. Finally, Silver Point Capital L.P. lifted its holdings in Telephone and Data Systems by 47.2% during the 4th 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 purchasing an additional 590,000 shares during the last quarter. 80.00% of the stock is owned by institutional investors.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS traded up $0.25 during midday trading on Friday, reaching $35.00. 560,836 shares of the company's stock were exchanged, compared to its average volume of 1,002,278. The company's 50 day simple moving average is $35.23 and its two-hundred day simple moving average is $35.40. The firm has a market capitalization of $3.99 billion, a PE ratio of -6.48 and a beta of 0.52. Telephone and Data Systems has a 12 month low of $17.90 and a 12 month high of $41.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59.

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 analysts' consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business posted $0.10 earnings per share. Telephone and Data Systems's revenue was down 8.6% on a year-over-year basis. Equities research analysts expect that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

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

Telephone and Data Systems Company Profile

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.