Telephone and Data Systems Sees Unusually Large Options Volume (NYSE:TDS)

Telephone and Data Systems, Inc. (NYSE:TDS) was the recipient of unusually large options trading on Friday. Traders purchased 4,548 call options on the stock. This represents an increase of approximately 182% compared to the average volume of 1,613 call options.

Telephone and Data Systems Price Performance

TDS stock opened at $22.97 on Friday. The firm has a 50 day moving average of $21.84 and a 200-day moving average of $19.29. The firm has a market capitalization of $2.60 billion, a P/E ratio of -4.72 and a beta of 0.81. Telephone and Data Systems has a 12 month low of $13.69 and a 12 month high of $24.92. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business earned ($0.17) EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Telephone and Data Systems will post -0.43 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

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 given a dividend of $0.04 per share. The ex-dividend date is Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.70%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -3.29%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Telephone and Data Systems by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider’s stock worth $87,810,000 after buying an additional 774,892 shares in the last quarter. Vanguard Group Inc. increased its stake in Telephone and Data Systems by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 12,248,615 shares of the Wireless communications provider’s stock valued at $224,762,000 after acquiring an additional 565,371 shares during the last quarter. Millennium Management LLC raised its position in Telephone and Data Systems by 34.0% during the second quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock valued at $40,430,000 after purchasing an additional 495,189 shares in the last quarter. Norges Bank bought a new stake in Telephone and Data Systems during the fourth quarter worth about $8,205,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Telephone and Data Systems in the 2nd quarter worth about $7,680,000. 80.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price target on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th.

Telephone and Data Systems Company Profile

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.