Raymond James Financial Forecasts Strong Price Appreciation for Telephone and Data Systems (NYSE:TDS) Stock

Telephone and Data Systems (NYSE:TDS) had its price objective upped by Raymond James Financial from $49.00 to $50.00 in a research report released on Tuesday morning,Benzinga reports. Raymond James Financial currently has an outperform rating on the Wireless communications provider’s stock.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their target price on Telephone and Data Systems from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a research report on Saturday.

Telephone and Data Systems Stock Performance

NYSE TDS opened at $38.91 on Tuesday. The stock has a 50-day simple moving average of $36.66 and a two-hundred day simple moving average of $36.20. The firm has a market capitalization of $4.44 billion, a P/E ratio of -40.12 and a beta of 0.54. Telephone and Data Systems has a fifty-two week low of $20.04 and a fifty-two week high of $42.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.78.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. On average, equities analysts forecast that Telephone and Data Systems will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, September 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Telephone and Data Systems’s dividend payout ratio (DPR) is -15.24%.

Institutional Investors Weigh In On Telephone and Data Systems

A number of institutional investors have recently modified their holdings of the business. Amalgamated Bank boosted its holdings in Telephone and Data Systems by 1.0% in the 2nd quarter. Amalgamated Bank now owns 28,061 shares of the Wireless communications provider’s stock worth $998,000 after buying an additional 270 shares during the last quarter. Xponance Inc. boosted its holdings in Telephone and Data Systems by 4.5% in the 1st quarter. Xponance Inc. now owns 7,485 shares of the Wireless communications provider’s stock worth $290,000 after buying an additional 324 shares during the last quarter. Assetmark Inc. boosted its holdings in Telephone and Data Systems by 53.1% in the 2nd quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 450 shares during the last quarter. Bank of Montreal Can boosted its holdings in Telephone and Data Systems by 1.0% in the 2nd quarter. Bank of Montreal Can now owns 45,795 shares of the Wireless communications provider’s stock worth $1,629,000 after buying an additional 470 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in Telephone and Data Systems by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider’s stock worth $352,000 after buying an additional 482 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

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.