Telephone and Data Systems (NYSE:TDS) Stock Gets Price Target Reduction from Citigroup

Telephone and Data Systems (NYSE:TDS) had its price target reduced by analysts at Citigroup from $47.00 to $44.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the Wireless communications provider’s stock. Citigroup‘s price target would indicate a potential upside of 39.95% from the company’s previous close.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective 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. Zacks Research downgraded shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Finally, Weiss Ratings upgraded shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.00.

Telephone and Data Systems Stock Up 2.3%

Shares of Telephone and Data Systems stock traded up $0.71 on Friday, hitting $31.44. 963,269 shares of the company’s stock traded hands, compared to its average volume of 1,199,818. The stock has a market cap of $3.62 billion, a P/E ratio of 7.69 and a beta of 0.36. The company has a quick ratio of 4.00, a current ratio of 4.01 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average is $35.17 and its 200 day moving average is $39.11. Telephone and Data Systems has a 52-week low of $30.46 and a 52-week high of $49.12.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, November 6th. The Wireless communications provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.15. The business had revenue of $306.69 million during the quarter, compared to the consensus estimate of $309.14 million. Telephone and Data Systems had a net margin of 43.41% and a return on equity of 12.48%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. Equities analysts anticipate that Telephone and Data Systems will post -0.64 earnings per share for the current year.

Institutional Investors Weigh In On Telephone and Data Systems

A number of institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Telephone and Data Systems by 29.2% during the first 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. boosted its holdings in Telephone and Data Systems by 446.9% in the second 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 period. Nykredit A S acquired a new position in Telephone and Data Systems in the second quarter worth $59,000. Fulcrum Asset Management LLP increased its stake in Telephone and Data Systems by 2,367.5% during the third quarter. Fulcrum Asset Management LLP now owns 1,974 shares of the Wireless communications provider’s stock valued at $67,000 after purchasing an additional 1,894 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Telephone and Data Systems by 16.3% during the second quarter. Versant Capital Management Inc now owns 2,730 shares of the Wireless communications provider’s stock valued at $101,000 after purchasing an additional 383 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc. (TDS) is a U.S. telecommunications company founded in 1969. Its TDS Telecom business provides broadband, video and voice services to residential and business customers, using fiber and other wired networks as well as fixed wireless in some areas. TDS Telecom serves communities across multiple U.S. states, including smaller and rural markets. Its offerings include high-speed internet access, television service and business communications solutions. TDS has also operated wireless telecommunications businesses during its history.