Telephone and Data Systems (NYSE:TDS) Receives “Outperform” Rating from Raymond James

Raymond James reaffirmed their outperform rating on shares of Telephone and Data Systems (NYSE:TDS) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $47.00 target price on the Wireless communications provider’s stock, down from their previous target price of $51.00.

Separately, JPMorgan Chase & Co. upped their price target on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th.

Telephone and Data Systems Price Performance

TDS opened at $31.74 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -5.88 and a beta of 0.62. The stock has a fifty day simple moving average of $36.10 and a two-hundred day simple moving average of $34.71. Telephone and Data Systems has a 12-month low of $14.52 and a 12-month high of $41.21.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly 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 positive return on equity of 1.12% and a negative net margin of 10.72%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year. Research analysts predict that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 annualized dividend and a yield of 0.50%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -18.60%.

Institutional Investors Weigh In On Telephone and Data Systems

A number of institutional investors have recently made changes to their positions in the company. Third Point LLC lifted its position in Telephone and Data Systems by 108.7% in the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider’s stock valued at $204,660,000 after acquiring an additional 3,125,000 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Telephone and Data Systems by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock valued at $110,161,000 after purchasing an additional 203,897 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Telephone and Data Systems by 1.1% during the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider’s stock valued at $64,801,000 after buying an additional 20,721 shares during the last quarter. Carronade Capital Management LP purchased a new stake in shares of Telephone and Data Systems during the fourth quarter valued at $62,845,000. Finally, Silver Point Capital L.P. grew its stake in shares of Telephone and Data Systems by 47.2% in the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider’s stock worth $62,762,000 after acquiring an additional 590,000 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

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.