Telephone and Data Systems (NYSE:TDS) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Telephone and Data Systems (NYSE:TDS) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks reports.

A number of other research analysts have also commented on TDS. Citigroup cut their target price on Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Weiss Ratings raised shares of Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.50.

Telephone and Data Systems Trading Down 1.1%

Shares of TDS opened at $37.49 on Wednesday. The stock’s 50-day moving average price is $34.66 and its 200 day moving average price is $39.64. The company has a quick ratio of 3.81, a current ratio of 3.82 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 12.50 and a beta of 0.33. Telephone and Data Systems has a 12-month low of $31.51 and a 12-month high of $49.12.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, August 7th. The Wireless communications provider reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $2.15. Telephone and Data Systems had a return on equity of 11.97% and a net margin of 33.20%.The company had revenue of $309.28 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter last year, the company earned ($0.05) EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts predict that Telephone and Data Systems will post -0.24 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Telephone and Data Systems’s dividend payout ratio is presently 5.33%.

Institutional Trading of Telephone and Data Systems

Several institutional investors have recently bought and sold shares of the stock. JPL Wealth Management LLC acquired a new position in Telephone and Data Systems during the third quarter worth $33,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Telephone and Data Systems by 2,779.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 1,084 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Telephone and Data Systems by 29.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,085 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 245 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Telephone and Data Systems by 446.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,340 shares of the Wireless communications provider’s stock worth $50,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of Telephone and Data Systems in the 2nd quarter worth about $59,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

About Telephone and Data Systems

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.