Telephone and Data Systems (NYSE:TDS) Shares Gap Up to $7.90

Posted by on Aug 6th, 2023

Telephone and Data Systems, Inc. (NYSE:TDS – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $7.90, but opened at $10.80. Telephone and Data Systems shares last traded at $12.13, with a volume of 1,232,992 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on TDS shares. Citigroup upgraded Telephone and Data Systems from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday. StockNews.com assumed coverage on Telephone and Data Systems in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, Morgan Stanley reduced their price target on Telephone and Data Systems from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.00.

Telephone and Data Systems Stock Up 87.8 %

The company has a current ratio of 1.55, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -28.00 and a beta of 1.12. The stock has a 50-day simple moving average of $7.90 and a 200-day simple moving average of $9.66.

Telephone and Data Systems (NYSE:TDS – Get Free Report) last announced its quarterly earnings data on Friday, August 4th. The Wireless communications provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.29 billion. Telephone and Data Systems had a net margin of 0.17% and a return on equity of 0.16%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. As a group, analysts predict that Telephone and Data Systems, Inc. will post -0.48 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.185 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $0.74 annualized dividend and a dividend yield of 4.99%. Telephone and Data Systems’s dividend payout ratio (DPR) is -139.62%.

Institutional Investors Weigh In On Telephone and Data Systems

Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System raised its position in Telephone and Data Systems by 3.1% during the fourth quarter. Arizona State Retirement System now owns 28,557 shares of the Wireless communications provider’s stock valued at $300,000 after buying an additional 871 shares during the period. Advisor Partners II LLC raised its position in Telephone and Data Systems by 6.5% during the fourth quarter. Advisor Partners II LLC now owns 17,229 shares of the Wireless communications provider’s stock valued at $181,000 after buying an additional 1,054 shares during the period. Exchange Traded Concepts LLC raised its position in Telephone and Data Systems by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 40,211 shares of the Wireless communications provider’s stock valued at $422,000 after buying an additional 1,095 shares during the period. Legal & General Group Plc raised its position in Telephone and Data Systems by 0.4% during the second quarter. Legal & General Group Plc now owns 296,381 shares of the Wireless communications provider’s stock valued at $4,680,000 after buying an additional 1,187 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Telephone and Data Systems by 2.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,217 shares of the Wireless communications provider’s stock valued at $465,000 after buying an additional 1,248 shares during the period. 80.81% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Company Profile

(Get Free Report)

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.

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