Telephone and Data Systems (NYSE:TDS) Sees Large Volume Increase - Here's What Happened

Shares of Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) saw an uptick in trading volume on Thursday . 1,016,228 shares traded hands during mid-day trading, a decline of 7% from the previous session's volume of 1,094,454 shares.The stock last traded at $33.73 and had previously closed at $32.54.

Wall Street Analysts Forecast Growth

TDS has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Telephone and Data Systems from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Monday. Raymond James raised Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price target for the company in a report on Thursday.

Telephone and Data Systems Stock Up 2.3 %

The firm has a 50 day moving average of $24.98 and a 200 day moving average of $21.63. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -6.03 and a beta of 0.77. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.22 billion during the quarter, compared to analysts' expectations 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 business's quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted ($0.16) earnings per share. As a group, sell-side analysts predict that Telephone and Data Systems, Inc. will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in 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. Millennium Management LLC lifted its position in shares of Telephone and Data Systems by 34.0% during the 2nd 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. Point72 Asset Management L.P. bought a new position in shares of Telephone and Data Systems during the 2nd quarter worth $7,680,000. Vanguard Group Inc. boosted 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 worth $201,365,000 after purchasing an additional 320,976 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Telephone and Data Systems by 8.4% in the second quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider's stock worth $55,058,000 after purchasing an additional 206,819 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.