Telephone and Data Systems (NYSE:TDS) Price Target Cut to $44.00 by Analysts at Citigroup

Telephone and Data Systems (NYSE:TDS) had its target price reduced by Citigroup from $47.00 to $44.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the Wireless communications provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Weiss Ratings raised shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, November 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.00.

Telephone and Data Systems Stock Performance

Shares of TDS stock traded up $0.71 during trading on Friday, hitting $31.44. The company’s stock had a trading volume of 963,382 shares, compared to its average volume of 1,811,377. Telephone and Data Systems has a 52 week low of $30.45 and a 52 week high of $49.12. The business has a fifty day moving average of $35.05 and a 200-day moving average of $39.05. The company has a current ratio of 4.01, a quick ratio of 4.00 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.62 billion, a PE ratio of 7.69 and a beta of 0.36.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, November 6th. The Wireless communications provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.15. The firm had revenue of $306.69 million during the quarter, compared to the consensus estimate of $309.14 million. Telephone and Data Systems had a net margin of 43.41% and a return on equity of 12.48%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. As a group, research analysts anticipate that Telephone and Data Systems will post -0.64 earnings per share for the current 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 15th. Telephone and Data Systems’s payout ratio is presently 3.91%.

Hedge Funds Weigh In On Telephone and Data Systems

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in Telephone and Data Systems by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,482,147 shares of the Wireless communications provider’s stock valued at $272,898,000 after acquiring an additional 90,097 shares during the last quarter. Carronade Capital Management LP boosted its holdings in shares of Telephone and Data Systems by 10.0% during the 1st quarter. Carronade Capital Management LP now owns 4,623,934 shares of the Wireless communications provider’s stock valued at $194,668,000 after purchasing an additional 420,340 shares during the last quarter. Oaktree Capital Management LP grew its position in shares of Telephone and Data Systems by 16.4% during the first quarter. Oaktree Capital Management LP now owns 4,292,243 shares of the Wireless communications provider’s stock valued at $180,703,000 after purchasing an additional 603,857 shares in the last quarter. Gabelli Funds LLC increased its stake in Telephone and Data Systems by 0.5% in the 3rd quarter. Gabelli Funds LLC now owns 1,535,800 shares of the Wireless communications provider’s stock worth $52,094,000 after acquiring an additional 7,900 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Telephone and Data Systems in the 2nd quarter worth about $31,096,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc. (TDS) is a U.S. telecommunications company founded in 1969. Its TDS Telecom business provides broadband, video and voice services to residential and business customers, using fiber and other wired networks as well as fixed wireless in some areas. TDS Telecom serves communities across multiple U.S. states, including smaller and rural markets. Its offerings include high-speed internet access, television service and business communications solutions. TDS has also operated wireless telecommunications businesses during its history.