JPMorgan Chase & Co. Issues Pessimistic Forecast for Telephone and Data Systems (NYSE:TDS) Stock Price

Telephone and Data Systems (NYSE:TDS) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $56.00 to $53.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 53.05% from the stock’s current price.

Separately, Raymond James reissued an “outperform” rating and issued a $47.00 target price (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th.

Telephone and Data Systems Stock Down 1.2%

TDS traded down $0.41 on Wednesday, reaching $34.63. The company’s stock had a trading volume of 234,762 shares, compared to its average volume of 1,047,967. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -6.42 and a beta of 0.57. Telephone and Data Systems has a fifty-two week low of $16.64 and a fifty-two week high of $41.21. 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 has a 50 day moving average of $35.84 and a two-hundred day moving average of $35.21.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was down 8.6% on a year-over-year basis. As a group, analysts forecast that Telephone and Data Systems will post -0.31 EPS for the current fiscal year.

Institutional Trading of Telephone and Data Systems

A number of large investors have recently bought and sold shares of the business. Independence Bank of Kentucky acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth about $41,000. Bayforest Capital Ltd raised its stake in Telephone and Data Systems by 121.8% during the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider’s stock valued at $52,000 after acquiring an additional 737 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Telephone and Data Systems during the 4th quarter valued at approximately $56,000. SBI Securities Co. Ltd. acquired a new stake in Telephone and Data Systems during the 4th quarter worth approximately $74,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Telephone and Data Systems by 74.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock valued at $92,000 after purchasing an additional 1,156 shares during the last quarter. Institutional investors and hedge funds 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.