Telephone and Data Systems (NYSE:TDS) Shares Down 5.1% – Time to Sell?

Telephone and Data Systems, Inc. (NYSE:TDS)’s share price was down 5.1% during mid-day trading on Wednesday. The stock traded as low as $34.31 and last traded at $33.8760. 122,213 shares traded hands during trading, a decline of 90% from the average session volume of 1,169,688 shares. The stock had previously closed at $35.69.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TDS. Citigroup dropped their price objective on Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Zacks Research downgraded shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. lowered their price target on shares of Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Finally, Weiss Ratings cut shares of Telephone and Data Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.50.

Telephone and Data Systems Stock Down 4.1%

The firm has a market capitalization of $3.94 billion, a PE ratio of 11.41 and a beta of 0.32. The company has a 50-day moving average of $35.21 and a 200 day moving average of $39.69.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, August 7th. The Wireless communications provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $0.09 by $2.15. The business had revenue of $309.28 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same period in the previous year, the business earned ($0.05) EPS. The business’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.24 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Telephone and Data Systems’s dividend payout ratio (DPR) is 5.33%.

Institutional Investors Weigh In On Telephone and Data Systems

Hedge funds have recently added to or reduced their stakes in the company. Knighthead Capital Management LLC purchased a new position in Telephone and Data Systems during the 1st quarter valued at about $18,764,000. Carronade Capital Management LP increased its stake in shares of Telephone and Data Systems by 10.0% during the first quarter. Carronade Capital Management LP now owns 4,623,934 shares of the Wireless communications provider’s stock valued at $194,668,000 after buying an additional 420,340 shares during the period. Three Seasons Wealth LLC purchased a new position in shares of Telephone and Data Systems during the second quarter valued at approximately $1,433,000. Rokos Capital Management LLP bought a new position in shares of Telephone and Data Systems during the first quarter valued at approximately $21,040,000. Finally, Dimensional Fund Advisors LP lifted its stake in Telephone and Data Systems by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,482,147 shares of the Wireless communications provider’s stock worth $272,898,000 after acquiring an additional 90,097 shares during the period. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE:TDS) is a telecommunications holding company that provides broadband and communications services in communities across the United States. Its principal operating business is TDS Telecom, which serves residential, business and wholesale customers with internet access, fiber-optic and other broadband connections, voice services, video entertainment and related communications solutions.

TDS Telecom focuses on expanding high-speed broadband availability in rural and suburban markets.