Telephone and Data Systems (NYSE:TDS) Stock Price Up 8.1% - Time to Buy?

Shares of Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) traded up 8.1% on Wednesday . The company traded as high as $38.43 and last traded at $38.75. 718,622 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 973,082 shares. The stock had previously closed at $35.83.

Analyst Upgrades and Downgrades

TDS has been the subject of several research reports. Raymond James Financial reiterated an "outperform" rating and issued a $47.00 price objective (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. JPMorgan Chase & Co. lowered 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 report on Wednesday, May 28th. Finally, Wall Street Zen downgraded shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a research note on Friday, May 30th.

Telephone and Data Systems Stock Up 9.2%

The company has a market cap of $4.46 billion, a PE ratio of -37.28 and a beta of 0.51. The firm has a 50-day simple moving average of $34.54 and a two-hundred day simple moving average of $35.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.74 and a quick ratio of 1.55.

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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The firm 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 1.03% and a positive return on equity of 0.73%. The business's quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. Research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

Hedge Funds Weigh In On Telephone and Data Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Third Point LLC raised its holdings in shares of Telephone and Data Systems by 108.7% during the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock valued at $204,660,000 after buying an additional 3,125,000 shares during the last quarter. Carronade Capital Management LP acquired a new stake in Telephone and Data Systems in the 4th quarter valued at approximately $62,845,000. Nuveen LLC bought a new stake in Telephone and Data Systems during the 1st quarter valued at $43,429,000. Norges Bank acquired a new position in Telephone and Data Systems during the 4th quarter worth $23,776,000. Finally, Silver Point Capital L.P. grew its stake in shares of Telephone and Data Systems by 47.2% in the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock worth $62,762,000 after purchasing an additional 590,000 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.

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