Telephone and Data Systems (NYSE:TDS) Downgraded to "Sell" Rating by Wall Street Zen

Wall Street Zen lowered shares of Telephone and Data Systems (NYSE:TDS - Free Report) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Several other equities analysts have also issued reports on the company. 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 research note on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on shares of 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.

Telephone and Data Systems Trading Up 1.3%

Shares of NYSE:TDS traded up $0.46 during trading on Friday, reaching $34.98. The stock had a trading volume of 214,220 shares, compared to its average volume of 958,472. Telephone and Data Systems has a 52 week low of $17.90 and a 52 week 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. The firm's fifty day moving average is $35.58 and its 200 day moving average is $35.32. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -6.48 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates 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 business's revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, equities analysts forecast that Telephone and Data Systems will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

Institutional Investors Weigh In On Telephone and Data Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in Telephone and Data Systems in the 4th quarter valued at $41,000. Bayforest Capital Ltd lifted 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 valued at $52,000 after buying an additional 737 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Telephone and Data Systems during the fourth quarter valued at about $56,000. SBI Securities Co. Ltd. bought a new stake in shares of Telephone and Data Systems during the fourth quarter worth about $74,000. Finally, Farther Finance Advisors LLC increased its position in shares of Telephone and Data Systems by 74.5% during the fourth 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. Institutional investors and hedge funds own 80.00% of the company's stock.

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.