Silver Point Capital L.P. Grows Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Silver Point Capital L.P. increased its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 47.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,840,000 shares of the Wireless communications provider’s stock after purchasing an additional 590,000 shares during the period. Telephone and Data Systems accounts for 5.3% of Silver Point Capital L.P.’s investment portfolio, making the stock its 4th largest position. Silver Point Capital L.P. owned about 1.63% of Telephone and Data Systems worth $62,762,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. grew its position in Telephone and Data Systems by 2.5% during the third quarter. Franklin Resources Inc. now owns 78,508 shares of the Wireless communications provider’s stock worth $1,855,000 after buying an additional 1,938 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of Telephone and Data Systems during the fourth quarter worth about $237,000. Ballentine Partners LLC bought a new position in shares of Telephone and Data Systems in the fourth quarter worth approximately $257,000. Crossmark Global Holdings Inc. bought a new position in shares of Telephone and Data Systems in the fourth quarter worth approximately $246,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in Telephone and Data Systems in the fourth quarter valued at approximately $203,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TDS. Raymond James reissued an “outperform” rating and issued a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. JPMorgan Chase & Co. raised their price target on Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

Telephone and Data Systems Stock Performance

NYSE TDS opened at $34.15 on Friday. The company has a 50-day simple moving average of $35.97 and a two-hundred day simple moving average of $34.93. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 12-month low of $16.64 and a 12-month high of $41.21. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -6.32 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. Telephone and Data Systems’s revenue was down 8.6% compared to the same quarter last year. On average, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems’s payout ratio is -15.24%.

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.