Telephone and Data Systems (NYSE:TDS) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Telephone and Data Systems (NYSE:TDS - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

TDS has been the subject of a number of other reports. Raymond James Financial reiterated an "outperform" rating and issued a $47.00 target price (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th.

Telephone and Data Systems Trading Down 2.4%

TDS traded down $0.94 on Friday, reaching $38.81. 642,838 shares of the company traded hands, compared to its average volume of 987,820. Telephone and Data Systems has a one year low of $17.90 and a one year high of $41.21. The firm has a fifty day simple moving average of $34.87 and a two-hundred day simple moving average of $35.63. The company has a market cap of $4.42 billion, a P/E ratio of -37.01 and a beta of 0.51. 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 earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS 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 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 company's revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, equities research analysts expect that Telephone and Data Systems will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.04 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.41%. Telephone and Data Systems's dividend payout ratio (DPR) is -15.24%.

Institutional Trading of Telephone and Data Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDS. Assenagon Asset Management S.A. acquired a new position in shares of Telephone and Data Systems in the 2nd quarter valued at $4,178,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Telephone and Data Systems by 12.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,497 shares of the Wireless communications provider's stock worth $267,000 after buying an additional 850 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Telephone and Data Systems by 9.9% in the 2nd quarter. Krilogy Financial LLC now owns 172,353 shares of the Wireless communications provider's stock worth $6,132,000 after buying an additional 15,507 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Telephone and Data Systems by 28.9% in the 1st quarter. Voya Investment Management LLC now owns 67,796 shares of the Wireless communications provider's stock worth $2,626,000 after buying an additional 15,219 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Telephone and Data Systems by 158.2% during the first quarter. Inspire Investing LLC now owns 30,323 shares of the Wireless communications provider's stock worth $1,175,000 after buying an additional 18,577 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.