Telephone and Data Systems (NYSE:TDS) Stock Price Down 6.1% Following Weak Earnings

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) fell 6.1% on Monday following a dissappointing earnings announcement. The company traded as low as $32.20 and last traded at $32.21. 783,559 shares were traded during trading, a decline of 28% from the average session volume of 1,092,453 shares. The stock had previously closed at $34.31.

The Wireless communications provider reported ($0.09) EPS 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 negative net margin of 10.72% and a positive return on equity of 1.12%. Telephone and Data Systems's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

Wall Street Analysts Forecast Growth

TDS has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Raymond James reissued an "outperform" rating and set a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

Hedge Funds Weigh In On Telephone and Data Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Independence Bank of Kentucky acquired a new position in shares of Telephone and Data Systems during the 4th quarter worth approximately $41,000. Bayforest Capital Ltd raised its position in Telephone and Data Systems by 121.8% during 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. purchased a new position in Telephone and Data Systems during the fourth quarter valued at $56,000. SBI Securities Co. Ltd. acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $74,000. Finally, Farther Finance Advisors LLC increased its stake 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 purchasing an additional 1,156 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Up 1.8 %

The firm has a market cap of $3.94 billion, a PE ratio of -6.40 and a beta of 0.57. The business's 50 day moving average price is $36.01 and its 200 day moving average price is $34.84. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

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.