Telephone and Data Systems (NYSE:TDS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Telephone and Data Systems (NYSE:TDS) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $53.00 to $56.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 54.25% from the company’s current price.

Separately, Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Thursday, November 7th.

Telephone and Data Systems Trading Down 1.0 %

Shares of TDS opened at $36.31 on Monday. Telephone and Data Systems has a 1-year low of $13.92 and a 1-year high of $41.21. The company has a market capitalization of $4.10 billion, a P/E ratio of -6.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The firm’s 50 day simple moving average is $35.64 and its 200 day simple moving average is $29.98.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.23. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Sell-side analysts forecast that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Telephone and Data Systems

Several hedge funds have recently added to or reduced their stakes in the business. Third Point LLC increased its holdings in shares of Telephone and Data Systems by 108.7% in the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider’s stock worth $204,660,000 after buying an additional 3,125,000 shares during the period. State Street Corp grew its position in Telephone and Data Systems by 1.6% during the 3rd quarter. State Street Corp now owns 4,039,070 shares of the Wireless communications provider’s stock worth $93,908,000 after acquiring an additional 65,432 shares during the last quarter. American Century Companies Inc. increased its stake in Telephone and Data Systems by 6.7% in the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock worth $110,161,000 after purchasing an additional 203,897 shares during the period. Geode Capital Management LLC lifted its position in Telephone and Data Systems by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider’s stock valued at $53,278,000 after purchasing an additional 43,470 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in Telephone and Data Systems by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider’s stock valued at $64,801,000 after purchasing an additional 20,721 shares during the last quarter. 80.00% of the stock is owned by institutional investors.

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.