Telephone and Data Systems (NYSE:TDS) Trading Down 4.8%

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) traded down 4.8% during trading on Tuesday . The company traded as low as $19.01 and last traded at $19.05. 61,200 shares were traded during trading, a decline of 95% from the average session volume of 1,131,207 shares. The stock had previously closed at $20.01.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. StockNews.com upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Monday, May 6th.

Telephone and Data Systems Stock Up 3.6 %

The firm has a 50 day moving average price of $20.49 and a two-hundred day moving average price of $18.11. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -4.00 and a beta of 0.84.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts expect that Telephone and Data Systems, Inc. will post -0.33 earnings per share for the current year.

Telephone and Data Systems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.04 per share. The ex-dividend date was Friday, June 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.81%. Telephone and Data Systems’s payout ratio is -3.29%.

Hedge Funds Weigh In On Telephone and Data Systems

Several large investors have recently modified their holdings of TDS. Victory Capital Management Inc. lifted its holdings in Telephone and Data Systems by 1.4% in the second quarter. Victory Capital Management Inc. now owns 41,514 shares of the Wireless communications provider’s stock worth $861,000 after acquiring an additional 554 shares during the last quarter. Consolidated Planning Corp acquired a new position in Telephone and Data Systems in the 2nd quarter worth approximately $426,000. Natixis Advisors LLC boosted its stake in Telephone and Data Systems by 84.3% in the 2nd quarter. Natixis Advisors LLC now owns 56,433 shares of the Wireless communications provider’s stock worth $1,170,000 after purchasing an additional 25,811 shares during the period. Innealta Capital LLC acquired a new stake in shares of Telephone and Data Systems during the 2nd quarter valued at $217,000. Finally, Panagora Asset Management Inc. lifted its stake in shares of Telephone and Data Systems by 4.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 627,658 shares of the Wireless communications provider’s stock valued at $13,011,000 after purchasing an additional 27,736 shares during the last quarter. Institutional investors 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.