JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Telephone and Data Systems (NYSE:TDS) Stock

Telephone and Data Systems (NYSE:TDS) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 45.56% from the stock’s previous close.

Telephone and Data Systems Stock Performance

Shares of TDS opened at $27.48 on Monday. The firm has a market cap of $3.11 billion, a PE ratio of -5.69 and a beta of 0.77. The company’s 50 day simple moving average is $24.58 and its 200-day simple moving average is $21.37. 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 has a 12-month low of $13.69 and a 12-month high of $30.44.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.15. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) EPS. As a group, equities analysts predict that Telephone and Data Systems will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Telephone and Data Systems

Several hedge funds have recently bought and sold shares of TDS. Consolidated Planning Corp grew its holdings in shares of Telephone and Data Systems by 38.6% during the third quarter. Consolidated Planning Corp now owns 28,453 shares of the Wireless communications provider’s stock worth $662,000 after buying an additional 7,918 shares in the last quarter. Innealta Capital LLC grew its stake in shares of Telephone and Data Systems by 8.0% during the 3rd quarter. Innealta Capital LLC now owns 11,313 shares of the Wireless communications provider’s stock valued at $263,000 after buying an additional 835 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Telephone and Data Systems by 13.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 468,809 shares of the Wireless communications provider’s stock worth $10,900,000 after buying an additional 55,434 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Telephone and Data Systems in the 3rd quarter worth $1,208,000. Finally, Everence Capital Management Inc. boosted its holdings in Telephone and Data Systems by 7.3% in the third quarter. Everence Capital Management Inc. now owns 12,840 shares of the Wireless communications provider’s stock valued at $299,000 after acquiring an additional 870 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

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.