Telephone and Data Systems (NYSE:TDS) Upgraded at Wall Street Zen

Key Points

• Telephone and Data Systems has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, reflecting a shift in sentiment towards the stock.
• JPMorgan Chase & Co. and Raymond James Financial both raised their price targets for the stock, indicating positive outlooks with targets of $54.00 and $50.00, respectively.
• Despite a revenue of $1.19 billion reported for the last quarter, the company saw a year-over-year decline of 5.7% in revenue and missed earnings estimates.

Telephone and Data Systems (NYSE:TDS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Raymond James Financial lifted their price objective on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th.

Telephone and Data Systems Stock Performance

NYSE TDS opened at $38.51 on Friday. Telephone and Data Systems has a 52-week low of $20.04 and a 52-week high of $42.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.78. The company has a market capitalization of $4.39 billion, a P/E ratio of -39.70 and a beta of 0.54. The company has a fifty day moving average of $36.92 and a 200-day moving average of $36.26.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted ($0.13) earnings per share. The business's revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts predict that Telephone and Data Systems will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Telephone and Data Systems news, CAO Anita J. Kroll sold 800 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $39.16, for a total value of $31,328.00. Following the completion of the sale, the chief accounting officer directly owned 19,492 shares of the company's stock, valued at $763,306.72. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Prudence E. Carlson sold 6,320 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $38.05, for a total transaction of $240,476.00. Following the completion of the sale, the director directly owned 315,457 shares of the company's stock, valued at $12,003,138.85. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,497 shares of company stock valued at $6,531,504 over the last three months. Insiders own 14.97% of the company's stock.

Institutional Trading of Telephone and Data Systems

Several hedge funds have recently added to or reduced their stakes in the business. Third Point LLC lifted its stake in Telephone and Data Systems by 12.7% in the first quarter. Third Point LLC now owns 6,760,000 shares of the Wireless communications provider's stock worth $261,882,000 after purchasing an additional 760,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Telephone and Data Systems by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,354,795 shares of the Wireless communications provider's stock valued at $246,181,000 after acquiring an additional 107,501 shares during the period. American Century Companies Inc. increased its position in shares of Telephone and Data Systems by 4.0% in the second quarter. American Century Companies Inc. now owns 3,607,857 shares of the Wireless communications provider's stock valued at $128,368,000 after acquiring an additional 137,494 shares during the period. Carronade Capital Management LP increased its position in shares of Telephone and Data Systems by 48.2% in the first quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider's stock valued at $105,780,000 after acquiring an additional 888,108 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Telephone and Data Systems by 0.5% in the second quarter. Geode Capital Management LLC now owns 2,323,551 shares of the Wireless communications provider's stock valued at $82,682,000 after acquiring an additional 11,999 shares during the period. 80.00% of the stock is owned by 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.

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