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

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) traded up 8.1% during mid-day trading on Wednesday . The stock traded as high as $38.43 and last traded at $38.75. 718,622 shares were traded 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and set a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. lowered their price target 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 Price Performance

The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of -37.59 and a beta of 0.51. The business's 50-day moving average is $34.71 and its two-hundred day moving average is $35.59. The company has a quick ratio of 1.55, a current ratio of 1.74 and a debt-to-equity ratio of 0.85.

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 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 0.73% and a negative net margin of 1.03%. The business's revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently announced 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. This represents a $0.16 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, June 16th. Telephone and Data Systems's payout ratio is currently -15.24%.

Institutional Investors Weigh In On Telephone and Data Systems

A number of large investors have recently modified their holdings of the company. Third Point LLC increased its holdings in shares of Telephone and Data Systems by 108.7% in the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock valued at $204,660,000 after purchasing an additional 3,125,000 shares in the last quarter. Carronade Capital Management LP acquired a new stake in shares of Telephone and Data Systems during the 4th quarter worth about $62,845,000. Nuveen LLC acquired a new stake in shares of Telephone and Data Systems during the 1st quarter worth about $43,429,000. Norges Bank acquired a new stake in shares of Telephone and Data Systems in the fourth quarter worth approximately $23,776,000. Finally, Silver Point Capital L.P. boosted its position 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 acquiring an additional 590,000 shares during the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

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.