Telephone and Data Systems (NYSE:TDS) Trading Down 9.6% Following Analyst Downgrade

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report)'s stock price was down 9.6% on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $36.00 to $34.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Telephone and Data Systems traded as low as $17.03 and last traded at $17.25. Approximately 531,356 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 1,082,175 shares. The stock had previously closed at $19.08.

Separately, StockNews.com upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Monday, May 6th.

Institutional Trading of Telephone and Data Systems

Hedge funds have recently modified their holdings of the business. Principal Securities Inc. bought a new position in Telephone and Data Systems in the 4th quarter worth about $25,000. Anchor Investment Management LLC bought a new position in Telephone and Data Systems in the 4th quarter worth about $46,000. Quarry LP bought a new position in Telephone and Data Systems in the 4th quarter worth about $60,000. GAMMA Investing LLC bought a new position in Telephone and Data Systems in the 4th quarter worth about $93,000. Finally, Quadrant Capital Group LLC boosted its stake in Telephone and Data Systems by 14.0% in the 4th quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider's stock worth $93,000 after purchasing an additional 622 shares in the last quarter. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Trading Down 11.4 %

The company has a market cap of $1.91 billion, a P/E ratio of -3.47 and a beta of 0.81. The stock's 50 day moving average is $16.84 and its 200-day moving average is $17.45. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share (EPS) 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 company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the business posted ($0.08) EPS. Telephone and Data Systems's revenue was down 3.1% compared to the same quarter last year. Research analysts anticipate that Telephone and Data Systems, Inc. will post -0.48 earnings per share for the current fiscal year.

Telephone and Data Systems Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, June 14th. Telephone and Data Systems's dividend payout ratio (DPR) is -15.61%.

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.