Telephone and Data Systems (NYSE:TDS) Hits New 1-Year High at $24.36

Telephone and Data Systems, Inc. (NYSE:TDS) shares reached a new 52-week high on Tuesday . The stock traded as high as $24.36 and last traded at $24.02, with a volume of 86816 shares. The stock had previously closed at $23.62.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDS. StockNews.com upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th.

Telephone and Data Systems Stock Performance

The stock has a 50-day simple moving average of $20.93 and a 200-day simple moving average of $18.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.51 and a quick ratio of 1.37. The stock has a market cap of $2.76 billion, a P/E ratio of -4.85 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company posted ($0.17) EPS. Telephone and Data Systems’s quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts forecast that Telephone and Data Systems, Inc. will post -0.38 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.66%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -3.29%.

Institutional Investors Weigh In On Telephone and Data Systems

Several institutional investors and hedge funds have recently made changes to their positions in TDS. Vanguard Group Inc. increased its position in Telephone and Data Systems by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider’s stock valued at $201,365,000 after purchasing an additional 320,976 shares during the period. Dimensional Fund Advisors LP raised its stake in Telephone and Data Systems by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider’s stock worth $124,761,000 after buying an additional 507,512 shares during the last quarter. American Century Companies Inc. lifted its holdings in Telephone and Data Systems by 8.4% in the second quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider’s stock valued at $55,058,000 after buying an additional 206,819 shares during the period. Gamco Investors INC. ET AL boosted its position in Telephone and Data Systems by 4.4% during the first quarter. Gamco Investors INC. ET AL now owns 2,092,042 shares of the Wireless communications provider’s stock valued at $33,515,000 after acquiring an additional 88,994 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Telephone and Data Systems by 34.0% during the 2nd quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock worth $40,430,000 after acquiring an additional 495,189 shares during the period. 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.