Telephone and Data Systems (NYSE:TDS) Downgraded by Morgan Stanley

Telephone and Data Systems (NYSE:TDSGet Rating) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, The Fly reports.

Several other research firms have also commented on TDS. Zacks Investment Research raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating and set a $21.00 price objective for the company in a research note on Thursday, March 10th. StockNews.com initiated coverage on shares of Telephone and Data Systems in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Raymond James lowered their price objective on shares of Telephone and Data Systems from $33.00 to $25.00 and set a “strong-buy” rating for the company in a research note on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.75.

Shares of TDS opened at $20.34 on Tuesday. Telephone and Data Systems has a 1-year low of $15.69 and a 1-year high of $26.51. The stock has a market cap of $2.33 billion, a PE ratio of 20.34 and a beta of 1.13. The firm has a 50-day simple moving average of $19.05 and a two-hundred day simple moving average of $19.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.58.

Telephone and Data Systems (NYSE:TDSGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The Wireless communications provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Telephone and Data Systems had a net margin of 2.95% and a return on equity of 2.78%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $0.12 earnings per share. As a group, sell-side analysts expect that Telephone and Data Systems will post 0.63 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Telephone and Data Systems by 39.0% in the fourth quarter. BlackRock Inc. now owns 16,427,947 shares of the Wireless communications provider’s stock worth $331,023,000 after acquiring an additional 4,612,655 shares during the last quarter. Private Management Group Inc. lifted its stake in Telephone and Data Systems by 13.8% in the fourth quarter. Private Management Group Inc. now owns 2,644,363 shares of the Wireless communications provider’s stock worth $53,284,000 after acquiring an additional 321,113 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Telephone and Data Systems by 13.1% during the third quarter. Goldman Sachs Group Inc. now owns 2,571,085 shares of the Wireless communications provider’s stock worth $50,137,000 after purchasing an additional 298,367 shares in the last quarter. Geode Capital Management LLC raised its holdings in Telephone and Data Systems by 16.6% during the third quarter. Geode Capital Management LLC now owns 1,965,081 shares of the Wireless communications provider’s stock worth $38,319,000 after purchasing an additional 280,259 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Telephone and Data Systems by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 1,908,914 shares of the Wireless communications provider’s stock worth $37,223,000 after purchasing an additional 23,157 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Telephone and Data Systems Company Profile (Get Rating)

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, routers, 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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