Telephone and Data Systems (NYSE:TDS) Shares Gap Down - Time to Sell?

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $29.75, but opened at $28.62. Telephone and Data Systems shares last traded at $28.08, with a volume of 161,274 shares.

Telephone and Data Systems Price Performance

The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -5.82 and a beta of 0.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.51 and a quick ratio of 1.37. The business's 50-day simple moving average is $24.47 and its two-hundred day simple moving average is $21.20.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.13). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the company posted ($0.17) earnings per share. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts expect that Telephone and Data Systems, Inc. will post -0.44 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, September 16th. Telephone and Data Systems's payout ratio is -3.31%.

Hedge Funds Weigh In On Telephone and Data Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Telephone and Data Systems by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider's stock worth $201,365,000 after acquiring an additional 320,976 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Telephone and Data Systems by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider's stock worth $124,761,000 after buying an additional 507,512 shares during the last quarter. American Century Companies Inc. increased its position in Telephone and Data Systems by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider's stock valued at $55,058,000 after buying an additional 206,819 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Telephone and Data Systems by 4.4% during the first quarter. Gamco Investors INC. ET AL now owns 2,092,042 shares of the Wireless communications provider's stock valued at $33,515,000 after buying an additional 88,994 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Telephone and Data Systems by 34.0% during the second quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider's stock valued at $40,430,000 after acquiring an additional 495,189 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

About Telephone and Data Systems

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.