Telephone and Data Systems (NYSE:TDS) Reaches New 1-Year High - Here's What Happened

Key Points

• Telephone and Data Systems shares reached a new 52-week high at $42.74, closing at $41.77 after trading increased volume of 351,664 shares.
• Analyst ratings have varied, with JPMorgan lowering their price target from $56.00 to $53.00, while Raymond James reduced theirs to $47.00, maintaining an "outperform" rating.
• The company reported a quarterly loss of ($0.09) EPS, missing consensus estimates, and saw a significant revenue decline of 8.6% compared to the previous year.
• Telephone and Data Systems announced a quarterly dividend of $0.04 per share, resulting in a 0.39% dividend yield, with an ex-dividend date on June 16th.

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $42.74 and last traded at $41.77, with a volume of 351664 shares changing hands. The stock had previously closed at $39.90.

Analysts Set New Price Targets

A number of research analysts have recently commented on TDS shares. Raymond James Financial reiterated an "outperform" rating and set a $49.00 target price (up from $47.00) on shares of Telephone and Data Systems in a research report on Friday. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. dropped 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 research note on Wednesday, May 28th.

Telephone and Data Systems Trading Up 0.2%

The stock has a market cap of $4.45 billion, a PE ratio of -37.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.74. The stock has a fifty day moving average price of $35.76 and a 200 day moving average price of $35.98.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 1.03%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. Equities analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, June 16th. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

Institutional Investors Weigh In On Telephone and Data Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH increased its position in shares of Telephone and Data Systems by 9.2% during the second quarter. Allianz Asset Management GmbH now owns 375,781 shares of the Wireless communications provider's stock worth $13,370,000 after acquiring an additional 31,529 shares during the period. Bayforest Capital Ltd raised its position in Telephone and Data Systems by 412.4% during the 2nd quarter. Bayforest Capital Ltd now owns 6,876 shares of the Wireless communications provider's stock valued at $245,000 after purchasing an additional 5,534 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Telephone and Data Systems by 222.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,268 shares of the Wireless communications provider's stock worth $792,000 after buying an additional 15,360 shares during the period. Inspire Investing LLC grew its position in shares of Telephone and Data Systems by 20.2% during the 2nd quarter. Inspire Investing LLC now owns 36,456 shares of the Wireless communications provider's stock worth $1,297,000 after buying an additional 6,133 shares in the last quarter. Finally, Forefront Analytics LLC purchased a new position in shares of Telephone and Data Systems during the second quarter valued at $1,310,000. Institutional investors 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.