Telephone and Data Systems, Inc. (NYSE:TDS) Sees Large Decrease in Short Interest

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 2,810,000 shares, a drop of 14.1% from the November 30th total of 3,270,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.9% of the shares of the company are short sold.

Telephone and Data Systems Price Performance

Shares of NYSE TDS traded down $0.83 during trading on Monday, hitting $34.01. 710,802 shares of the company were exchanged, compared to its average volume of 1,087,671. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. Telephone and Data Systems has a 1 year low of $13.69 and a 1 year high of $35.39. The company has a market cap of $3.84 billion, a price-to-earnings ratio of -6.30 and a beta of 0.81. The firm's fifty day moving average price is $32.33 and its 200 day moving average price is $25.59.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.19. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm's revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. On average, sell-side analysts expect that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 16th. Telephone and Data Systems's dividend payout ratio (DPR) is -2.96%.

Hedge Funds Weigh In On Telephone and Data Systems

Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Telephone and Data Systems in the 2nd quarter valued at about $40,000. CWM LLC lifted its position in Telephone and Data Systems by 26.8% during the third quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider's stock valued at $116,000 after buying an additional 1,056 shares in the last quarter. GAMMA Investing LLC grew its stake in Telephone and Data Systems by 10.2% during the third quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider's stock worth $123,000 after buying an additional 490 shares during the period. Headlands Technologies LLC increased its position in shares of Telephone and Data Systems by 328.9% in the second quarter. Headlands Technologies LLC now owns 5,974 shares of the Wireless communications provider's stock worth $124,000 after acquiring an additional 4,581 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Telephone and Data Systems in the 3rd quarter valued at $210,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TDS. Raymond James upgraded shares of Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th.

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.