Telephone and Data Systems (NYSE:TDS) Shares Gap Down to $21.11

Telephone and Data Systems, Inc. (NYSE:TDS) gapped down before the market opened on Friday . The stock had previously closed at $21.11, but opened at $19.30. Telephone and Data Systems shares last traded at $19.97, with a volume of 293,161 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TDS. StockNews.com upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Monday, May 6th. JPMorgan Chase & Co. dropped their price target on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th.

Telephone and Data Systems Price Performance

The stock has a market capitalization of $2.26 billion, a P/E ratio of -4.09 and a beta of 0.84. The business’s 50 day simple moving average is $20.46 and its two-hundred day simple moving average is $18.10. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.84.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Telephone and Data Systems had a negative net margin of 9.36% and a positive return on equity of 0.62%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) EPS. As a group, sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.33 earnings per share for the current fiscal year.

Telephone and Data Systems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.16 annualized dividend and a yield of 0.80%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -3.29%.

Hedge Funds Weigh In On Telephone and Data Systems

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of 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 valued at $201,365,000 after purchasing an additional 320,976 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Telephone and Data Systems by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider’s stock worth $87,810,000 after buying an additional 774,892 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Telephone and Data Systems by 4.4% in the first quarter. Gamco Investors INC. ET AL now owns 2,092,042 shares of the Wireless communications provider’s stock valued at $33,515,000 after acquiring an additional 88,994 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Telephone and Data Systems by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,328,067 shares of the Wireless communications provider’s stock valued at $24,370,000 after acquiring an additional 20,516 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in Telephone and Data Systems by 17.1% during the first quarter. Bridgeway Capital Management LLC now owns 1,246,195 shares of the Wireless communications provider’s stock worth $19,964,000 after acquiring an additional 181,790 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

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.