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

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) saw 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. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 5.2 days. Currently, 5.6% of the shares of the company are sold short.

Telephone and Data Systems Stock Down 2.4%

Telephone and Data Systems stock traded down $0.83 during mid-day trading on Wednesday, hitting $33.83. The company had a trading volume of 728,564 shares, compared to its average volume of 1,007,070. 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 stock's 50 day moving average price is $35.40 and its two-hundred day moving average price is $35.31. Telephone and Data Systems has a 12 month low of $17.90 and a 12 month high of $41.21. The company has a market capitalization of $3.86 billion, a PE ratio of -6.26 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.18 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The firm's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, sell-side analysts anticipate that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.47%. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.24%.

Analysts Set New Price Targets

TDS has been the topic of a number of recent research reports. Raymond James reissued an "outperform" rating and set a $47.00 price objective (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. Wall Street Zen cut Telephone and Data Systems from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. cut their price objective on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th.

Institutional Investors Weigh In On Telephone and Data Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd boosted its stake in shares of Telephone and Data Systems by 121.8% in the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock worth $52,000 after acquiring an additional 737 shares during the period. Federated Hermes Inc. bought a new stake in Telephone and Data Systems in the fourth quarter worth about $56,000. SBI Securities Co. Ltd. purchased a new stake in Telephone and Data Systems in the fourth quarter worth $74,000. Farther Finance Advisors LLC grew its stake in Telephone and Data Systems by 74.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock worth $92,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Telephone and Data Systems by 139.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider's stock worth $128,000 after buying an additional 2,186 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

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.

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