Telephone and Data Systems (NYSE:TDS) Stock Price Down 9.6% Following Analyst Downgrade

Telephone and Data Systems, Inc. (NYSE:TDSGet Free Report)’s share price traded down 9.6% during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $36.00 to $34.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Telephone and Data Systems traded as low as $17.03 and last traded at $17.25. 531,356 shares changed hands during trading, a decline of 51% from the average session volume of 1,082,175 shares. The stock had previously closed at $19.08.

Separately, StockNews.com upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Monday, May 6th.

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Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TDS. Dimensional Fund Advisors LP grew its stake in Telephone and Data Systems by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider’s stock valued at $87,810,000 after acquiring an additional 774,892 shares in the last quarter. Vanguard Group Inc. grew its position in Telephone and Data Systems by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 12,248,615 shares of the Wireless communications provider’s stock valued at $224,762,000 after purchasing an additional 565,371 shares in the last quarter. Segantii Capital Management Ltd acquired a new position in Telephone and Data Systems in the 4th quarter valued at approximately $9,144,000. Norges Bank purchased a new stake in Telephone and Data Systems in the 4th quarter worth approximately $8,205,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Telephone and Data Systems during the 3rd quarter valued at $6,137,000. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1.91 billion, a PE ratio of -3.47 and a beta of 0.81. The firm’s fifty day moving average price is $16.84 and its 200 day moving average price is $17.45.

Telephone and Data Systems (NYSE:TDSGet Free Report) last issued its earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.15. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. On average, research analysts anticipate that Telephone and Data Systems, Inc. will post -0.48 earnings per share for the current year.

Telephone and Data Systems Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.95%. Telephone and Data Systems’s dividend payout ratio (DPR) is -15.61%.

About Telephone and Data Systems

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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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