Wall Street Zen Upgrades Telephone and Data Systems (NYSE:TDS) to Hold

Wall Street Zen upgraded shares of Telephone and Data Systems (NYSE:TDS) from a sell rating to a hold rating in a research report released on Sunday morning.

TDS has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 12th. Raymond James Financial lifted their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th.

Telephone and Data Systems Stock Performance

Shares of TDS stock opened at $38.51 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.78 and a quick ratio of 1.65. The firm has a 50-day moving average of $36.92 and a 200-day moving average of $36.27. Telephone and Data Systems has a one year low of $20.04 and a one year high of $42.74. The company has a market cap of $4.39 billion, a P/E ratio of -39.70 and a beta of 0.54.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts forecast that Telephone and Data Systems will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems’s payout ratio is -16.49%.

Insider Buying and Selling

In other Telephone and Data Systems news, Director Prudence E. Carlson sold 6,320 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $38.05, for a total transaction of $240,476.00. Following the completion of the transaction, the director directly owned 315,457 shares of the company’s stock, valued at approximately $12,003,138.85. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Anita J. Kroll sold 800 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $39.16, for a total value of $31,328.00. Following the completion of the sale, the chief accounting officer directly owned 19,492 shares of the company’s stock, valued at $763,306.72. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,497 shares of company stock valued at $6,531,504. 14.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Telephone and Data Systems

Institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Telephone and Data Systems by 21.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider’s stock worth $329,000 after purchasing an additional 1,500 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Telephone and Data Systems by 8.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider’s stock worth $254,000 after buying an additional 485 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Telephone and Data Systems in the 1st quarter valued at approximately $215,000. Wealth Enhancement Advisory Services LLC bought a new stake in Telephone and Data Systems during the 4th quarter valued at $237,000. Finally, GAMMA Investing LLC raised its holdings in Telephone and Data Systems by 8.7% during the 1st quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider’s stock valued at $242,000 after acquiring an additional 501 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

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.