Telephone and Data Systems (NYSE:TDS) Hits New 52-Week High at $21.84

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $21.84 and last traded at $21.81, with a volume of 628646 shares traded. The stock had previously closed at $19.89.

Analyst Upgrades and Downgrades

TDS has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Telephone and Data Systems from $36.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, May 29th. StockNews.com upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Monday, May 6th.

Telephone and Data Systems Trading Up 13.3 %

The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -4.63 and a beta of 0.84. The business's fifty day simple moving average is $16.97 and its 200 day simple moving average is $17.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.58 and a quick ratio of 1.40.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.15. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. Telephone and Data Systems's quarterly revenue was down 3.1% compared to the same quarter last year. On average, research analysts predict that Telephone and Data Systems, Inc. will post -0.34 EPS for the current year.

Telephone and Data Systems Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, June 14th. Telephone and Data Systems's payout ratio is -15.61%.

Hedge Funds Weigh In On Telephone and Data Systems

Several institutional investors have recently modified their holdings of TDS. Barclays PLC boosted its stake in Telephone and Data Systems by 134.2% during the 3rd quarter. Barclays PLC now owns 237,254 shares of the Wireless communications provider's stock valued at $4,344,000 after purchasing an additional 135,970 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Telephone and Data Systems by 46.1% during the third quarter. New York State Common Retirement Fund now owns 40,344 shares of the Wireless communications provider's stock valued at $739,000 after buying an additional 12,723 shares during the last quarter. Swiss National Bank boosted its position in shares of Telephone and Data Systems by 0.9% during the third quarter. Swiss National Bank now owns 219,600 shares of the Wireless communications provider's stock worth $4,021,000 after buying an additional 1,900 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Telephone and Data Systems by 1.0% during the third quarter. Gamco Investors INC. ET AL now owns 2,123,914 shares of the Wireless communications provider's stock worth $38,889,000 after buying an additional 21,483 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Telephone and Data Systems by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,307,551 shares of the Wireless communications provider's stock worth $23,941,000 after buying an additional 58,246 shares in the last quarter. Institutional investors own 80.00% of the company's stock.

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.