Telephone and Data Systems (NYSE:TDS) Sets New 1-Year High – Here’s Why

Telephone and Data Systems, Inc. (NYSE:TDS)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $34.83 and last traded at $34.70, with a volume of 139284 shares trading hands. The stock had previously closed at $34.09.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TDS shares. JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Raymond James raised Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Thursday, November 7th.

Telephone and Data Systems Price Performance

The stock has a 50-day moving average of $30.02 and a two-hundred day moving average of $24.38. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -6.49 and a beta of 0.81. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.19. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the firm posted ($0.16) earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 16th. Telephone and Data Systems’s payout ratio is -2.96%.

Hedge Funds Weigh In On Telephone and Data Systems

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Telephone and Data Systems by 4,082.9% in the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 1,674 shares in the last quarter. Quarry LP acquired a new position in shares of Telephone and Data Systems during the 2nd quarter valued at about $40,000. CWM LLC raised its stake in shares of Telephone and Data Systems by 57.0% in the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock valued at $82,000 after acquiring an additional 1,430 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Telephone and Data Systems in the 2nd quarter worth approximately $88,000. Finally, Nisa Investment Advisors LLC boosted its position in Telephone and Data Systems by 14.0% during the second quarter. Nisa Investment Advisors LLC now owns 5,146 shares of the Wireless communications provider’s stock worth $107,000 after purchasing an additional 630 shares during the period. 80.00% of the stock is owned by institutional investors and hedge funds.

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.