Zacks Investment Research upgraded shares of Telephone and Data Systems, Inc. (NYSE:TDS) from a hold rating to a buy rating in a report released on Monday morning. Zacks Investment Research currently has $29.00 target price on the Wireless communications provider’s stock.
According to Zacks, “Telephone and Data Systems posted weak third-quarter 2017 results. Despite such results, the company is looking for lucrative opportunities to bring more fiber in order to better address services. By leveraging on fiber, the telco is trying to respond to customers' growing TV and broadband service demand. The company continues to expand its business in the managed hosting and cloud service market. Launch of Shared Data plans at nominal prices should help the company gain consumers. The company's IPTV is also doing considerably well. It continues to experience strong smartphone demand at its wireless wing, U.S. Cellular. Over the past three months, the stock price declined 13.2% while the industry lost 11.6%. However, intense competition, roaming revenues related woes, costs associated with network integration and construction of new cell sites, aggressive equipment pricing, wireless technology upgrades and spectrum licensing are other risks.”
TDS has been the subject of a number of other reports. BidaskClub cut shares of Telephone and Data Systems from a hold rating to a sell rating in a report on Sunday, July 16th. Drexel Hamilton upgraded shares of Telephone and Data Systems from a hold rating to a buy rating in a report on Thursday, November 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $29.00.
Shares of Telephone and Data Systems (TDS) traded up $0.63 during midday trading on Monday, hitting $25.44. 633,500 shares of the stock were exchanged, compared to its average volume of 692,370. The firm has a market capitalization of $2,744.91, a PE ratio of 55.14 and a beta of 1.02. Telephone and Data Systems has a 52-week low of $24.57 and a 52-week high of $32.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.42 and a quick ratio of 2.29.
Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Wednesday, November 8th. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. Telephone and Data Systems had a negative net margin of 2.77% and a positive return on equity of 1.08%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. research analysts forecast that Telephone and Data Systems will post -1.35 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in Telephone and Data Systems during the third quarter worth about $1,040,000. California Public Employees Retirement System boosted its holdings in Telephone and Data Systems by 4.1% during the third quarter. California Public Employees Retirement System now owns 367,733 shares of the Wireless communications provider’s stock worth $10,256,000 after purchasing an additional 14,586 shares during the last quarter. Zions Bancorporation purchased a new position in Telephone and Data Systems during the third quarter worth about $119,000. Vident Investment Advisory LLC boosted its holdings in Telephone and Data Systems by 17.1% during the third quarter. Vident Investment Advisory LLC now owns 95,221 shares of the Wireless communications provider’s stock worth $2,655,000 after purchasing an additional 13,908 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in Telephone and Data Systems during the third quarter worth about $465,000. Institutional investors and hedge funds own 82.27% of the company’s stock.
Telephone and Data Systems Company Profile
Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).
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