JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Telephone and Data Systems (NYSE:TDS) Stock

Telephone and Data Systems (NYSE:TDS) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $53.00 to $56.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 50.01% from the stock’s previous close.

Separately, Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Thursday, November 7th.

Telephone and Data Systems Stock Down 1.7 %

TDS stock traded down $0.63 during trading on Monday, reaching $37.33. 713,185 shares of the stock were exchanged, compared to its average volume of 806,478. The firm’s 50 day moving average is $35.59 and its 200 day moving average is $29.87. The firm has a market cap of $4.22 billion, a P/E ratio of -6.91 and a beta of 0.80. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. Telephone and Data Systems has a twelve month low of $13.92 and a twelve month high of $41.21.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.23. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. As a group, research analysts forecast that Telephone and Data Systems will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Telephone and Data Systems

Large investors have recently bought and sold shares of the stock. Independence Bank of Kentucky bought a new stake in shares of Telephone and Data Systems in the 4th quarter worth $41,000. Federated Hermes Inc. purchased a new position in Telephone and Data Systems during the fourth quarter worth about $56,000. SBI Securities Co. Ltd. bought a new stake in Telephone and Data Systems in the 4th quarter worth about $74,000. Versant Capital Management Inc increased its stake in Telephone and Data Systems by 14.5% in the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock valued at $82,000 after buying an additional 303 shares during the last quarter. Finally, Quarry LP increased its stake in Telephone and Data Systems by 35.5% in the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock valued at $61,000 after buying an additional 692 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, 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.