Telephone and Data Systems (NYSE:TDS) Shares Gap Up - What's Next?

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $25.26, but opened at $26.46. Telephone and Data Systems shares last traded at $28.80, with a volume of 417,584 shares changing hands.

Telephone and Data Systems Stock Performance

The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $3.29 billion, a P/E ratio of -6.04 and a beta of 0.81. The company's fifty day simple moving average is $23.02 and its 200 day simple moving average is $20.39.

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) EPS for the quarter, hitting analysts' consensus estimates of ($0.13). The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations 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 firm's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. As a group, sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.44 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, September 16th. Telephone and Data Systems's payout ratio is -3.31%.

Hedge Funds Weigh In On Telephone and Data Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Telephone and Data Systems by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider's stock valued at $201,365,000 after acquiring an additional 320,976 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Telephone and Data Systems by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider's stock worth $124,761,000 after acquiring an additional 507,512 shares during the period. American Century Companies Inc. boosted its stake in Telephone and Data Systems by 8.4% during the second 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 during the last quarter. Gamco Investors INC. ET AL boosted 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 boosted its stake in 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 buying an additional 495,189 shares during the last quarter. Hedge funds and other 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.