JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Telephone and Data Systems (NYSE:TDS) Stock

Telephone and Data Systems (NYSE:TDS - Get Free Report) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $53.00 to $56.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the Wireless communications provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 56.72% from the company's previous close.

Separately, Raymond James upgraded shares of Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a research report on Thursday, November 7th.

Telephone and Data Systems Stock Performance

Shares of TDS stock traded down $0.11 during trading hours on Monday, hitting $35.73. 290,079 shares of the company were exchanged, compared to its average volume of 840,195. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of -6.61 and a beta of 0.80. The firm has a fifty day simple moving average of $35.74 and a 200 day simple moving average of $30.14. Telephone and Data Systems has a 52-week low of $14.04 and a 52-week high of $41.21.

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Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.23. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. Research analysts predict that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telephone and Data Systems

A number of institutional investors and hedge funds have recently made changes to their positions in TDS. Third Point LLC grew its stake in shares of Telephone and Data Systems by 108.7% in the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock worth $204,660,000 after buying an additional 3,125,000 shares during the last quarter. Carronade Capital Management LP bought a new stake in Telephone and Data Systems in the fourth quarter worth $62,845,000. Silver Point Capital L.P. purchased a new stake in shares of Telephone and Data Systems in the third quarter worth $29,062,000. Norges Bank bought a new position in shares of Telephone and Data Systems during the fourth quarter valued at $23,776,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Telephone and Data Systems by 189.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 730,730 shares of the Wireless communications provider's stock valued at $24,925,000 after acquiring an additional 477,945 shares in the last quarter. 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.