Telephone & Data Systems, Inc. (NYSE:TDS) Short Interest Update

Telephone & Data Systems, Inc. (NYSE:TDS) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 2,614,000 shares, an increase of 18.3% from the May 30th total of 2,209,800 shares. Based on an average trading volume of 778,500 shares, the short-interest ratio is presently 3.4 days. Currently, 2.6% of the shares of the stock are sold short.

TDS stock opened at $31.79 on Monday. Telephone & Data Systems has a 52-week low of $24.00 and a 52-week high of $37.29. The company’s 50 day moving average price is $30.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.42 and a quick ratio of 2.25. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 27.17 and a beta of 1.04.

Telephone & Data Systems (NYSE:TDS) last released its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.14. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. Telephone & Data Systems had a net margin of 3.00% and a return on equity of 2.92%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. Equities research analysts predict that Telephone & Data Systems will post 1.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.66 annualized dividend and a dividend yield of 2.08%. Telephone & Data Systems’s dividend payout ratio (DPR) is 56.41%.

In related news, insider Scott H. Williamson sold 33,647 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $32.90, for a total transaction of $1,106,986.30. Following the completion of the sale, the insider now directly owns 55,881 shares of the company’s stock, valued at $1,838,484.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Clarence A. Davis sold 2,410 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $30.18, for a total transaction of $72,733.80. Following the sale, the director now directly owns 9,500 shares of the company’s stock, valued at $286,710. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,003 shares of company stock valued at $1,948,100. Company insiders own 14.33% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC boosted its holdings in shares of Telephone & Data Systems by 0.5% during the 4th quarter. MetLife Investment Advisors LLC now owns 56,689 shares of the Wireless communications provider’s stock worth $1,845,000 after buying an additional 308 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Telephone & Data Systems by 1.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 26,757 shares of the Wireless communications provider’s stock worth $871,000 after buying an additional 343 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Telephone & Data Systems by 30.8% during the 4th quarter. Macquarie Group Ltd. now owns 1,700 shares of the Wireless communications provider’s stock worth $55,000 after buying an additional 400 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Telephone & Data Systems by 1.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the Wireless communications provider’s stock worth $771,000 after buying an additional 400 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Telephone & Data Systems by 0.9% during the 1st quarter. Arizona State Retirement System now owns 67,321 shares of the Wireless communications provider’s stock worth $2,069,000 after buying an additional 603 shares during the period. Institutional investors own 79.96% of the company’s stock.

Several research firms recently commented on TDS. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Morgan Stanley increased their target price on shares of Kimberly Clark from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 18th. TheStreet lowered shares of ZTO Express (Cayman) from a “b+” rating to a “c” rating in a research note on Wednesday, May 1st. Finally, ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Telephone & Data Systems has a consensus rating of “Buy” and an average price target of $39.30.

Telephone & Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.

Further Reading: Are sell-side analysts objective?

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