Telephone and Data Systems (NYSE:TDS) Price Target Raised to $56.00

Telephone and Data Systems (NYSE:TDS) had its price target lifted by research analysts at JPMorgan Chase & Co. from $53.00 to $56.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 50.01% from the stock’s current price.

Separately, Raymond James raised Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Thursday, November 7th.

Telephone and Data Systems Trading Down 1.7 %

Shares of TDS stock traded down $0.63 during mid-day trading on Monday, reaching $37.33. 713,185 shares of the stock traded hands, compared to its average volume of 806,478. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -6.91 and a beta of 0.80. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock’s fifty day simple moving average is $35.59 and its two-hundred day simple moving average is $29.87. Telephone and Data Systems has a 1-year low of $13.92 and a 1-year high of $41.21.

Telephone and Data Systems (NYSE:TDS) last posted its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.23. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. On average, research analysts anticipate that Telephone and Data Systems will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Telephone and Data Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of Telephone and Data Systems by 14.5% in the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock worth $82,000 after acquiring an additional 303 shares in the last quarter. GAMMA Investing LLC increased its holdings in Telephone and Data Systems by 8.3% in the fourth quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider’s stock worth $196,000 after purchasing an additional 440 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Telephone and Data Systems by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider’s stock valued at $352,000 after buying an additional 482 shares during the period. Aigen Investment Management LP boosted its holdings in shares of Telephone and Data Systems by 5.3% during the 3rd quarter. Aigen Investment Management LP now owns 13,589 shares of the Wireless communications provider’s stock worth $316,000 after buying an additional 685 shares in the last quarter. Finally, Quarry LP grew its position in shares of Telephone and Data Systems by 35.5% during the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after buying an additional 692 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.