Telephone and Data Systems (NYSE:TDS) Given New $40.00 Price Target at JPMorgan Chase & Co.

Telephone and Data Systems (NYSE:TDS - Free Report) had its price target raised by JPMorgan Chase & Co. from $39.00 to $40.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the Wireless communications provider's stock.

Telephone and Data Systems Price Performance

Shares of TDS stock traded up $0.60 during trading hours on Monday, hitting $28.08. 991,590 shares of the company's stock were exchanged, compared to its average volume of 1,092,319. The firm has a 50 day moving average of $24.58 and a two-hundred day moving average of $21.37. Telephone and Data Systems has a fifty-two week low of $13.69 and a fifty-two week high of $30.44. The firm has a market cap of $3.17 billion, a P/E ratio of -5.20 and a beta of 0.77. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 0.84.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.15. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.24 billion. Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. Sell-side analysts forecast that Telephone and Data Systems will post -0.44 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, September 16th. Telephone and Data Systems's dividend payout ratio is presently -2.96%.

Institutional Trading of Telephone and Data Systems

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Telephone and Data Systems by 10.2% in the third quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider's stock valued at $123,000 after buying an additional 490 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Telephone and Data Systems by 1.4% in the second quarter. Victory Capital Management Inc. now owns 41,514 shares of the Wireless communications provider's stock valued at $861,000 after purchasing an additional 554 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Telephone and Data Systems by 14.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,146 shares of the Wireless communications provider's stock worth $107,000 after acquiring an additional 630 shares during the period. Diversified Trust Co raised its holdings in Telephone and Data Systems by 2.5% during the third quarter. Diversified Trust Co now owns 31,770 shares of the Wireless communications provider's stock worth $739,000 after purchasing an additional 771 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Telephone and Data Systems by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 49,600 shares of the Wireless communications provider's stock valued at $1,028,000 after purchasing an additional 800 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other 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.