Telephone and Data Systems (NYSE:TDS) Sets New 12-Month High – Here’s Why

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) hit a new 52-week high on Tuesday . The company traded as high as $36.22 and last traded at $36.21, with a volume of 717978 shares traded. The stock had previously closed at $35.02.

Analysts Set New Price Targets

Several brokerages have commented on TDS. Raymond James raised Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 4th.

Telephone and Data Systems Stock Performance

The company has a fifty day simple moving average of $33.80 and a 200 day simple moving average of $27.23. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.19. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) EPS. On average, equities research analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, December 16th. Telephone and Data Systems’s dividend payout ratio is -2.96%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its stake in Telephone and Data Systems by 303.5% during the 2nd quarter. Renaissance Technologies LLC now owns 148,427 shares of the Wireless communications provider’s stock worth $3,077,000 after buying an additional 111,643 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Telephone and Data Systems during the 2nd quarter worth approximately $211,000. Intech Investment Management LLC acquired a new position in Telephone and Data Systems during the 2nd quarter worth approximately $755,000. Public Sector Pension Investment Board raised its stake in Telephone and Data Systems by 7.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 216,893 shares of the Wireless communications provider’s stock worth $4,496,000 after buying an additional 14,828 shares during the period. Finally, Bank of Montreal Can raised its stake in Telephone and Data Systems by 935.4% during the 2nd quarter. Bank of Montreal Can now owns 197,754 shares of the Wireless communications provider’s stock worth $4,135,000 after buying an additional 178,654 shares during the period. 80.00% of the stock is 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.