Telephone and Data Systems (NYSE:TDS) Shares Up 6.4%

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report)'s share price shot up 6.4% on Thursday . The stock traded as high as $18.09 and last traded at $18.00. 763,793 shares traded hands during trading, a decline of 31% from the average session volume of 1,101,093 shares. The stock had previously closed at $16.92.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Monday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Telephone and Data Systems from $36.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday.

Telephone and Data Systems Trading Up 8.2 %

The firm has a market capitalization of $2.07 billion, a P/E ratio of -3.76 and a beta of 0.81. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $16.89 and a 200 day simple moving average of $17.46.

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 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.15. Telephone and Data Systems had a negative net margin of 9.36% and a positive return on equity of 0.62%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Telephone and Data Systems's revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts forecast that Telephone and Data Systems, Inc. will post -0.34 EPS for the current year.

Telephone and Data Systems Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.87%. Telephone and Data Systems's dividend payout ratio (DPR) is -15.61%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Telephone and Data Systems by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider's stock valued at $87,810,000 after purchasing an additional 774,892 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Telephone and Data Systems in the fourth quarter worth about $905,000. FMR LLC grew its position in Telephone and Data Systems by 6.8% in the third quarter. FMR LLC now owns 1,116,774 shares of the Wireless communications provider's stock worth $20,448,000 after acquiring an additional 70,832 shares in the last quarter. Barclays PLC increased its stake in Telephone and Data Systems by 134.2% during the third quarter. Barclays PLC now owns 237,254 shares of the Wireless communications provider's stock worth $4,344,000 after acquiring an additional 135,970 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in Telephone and Data Systems during the third quarter valued at approximately $4,952,000. 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.