Telephone and Data Systems (NYSE:TDS) Sets New 1-Year Low – Here’s What Happened

Telephone and Data Systems, Inc. (NYSE:TDS) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $35.17 and last traded at $35.4090, with a volume of 598674 shares trading hands. The stock had previously closed at $35.35.

Wall Street Analyst Weigh In

Several analysts recently commented on TDS shares. Raymond James Financial lowered Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings lowered shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.33.

Telephone and Data Systems Trading Down 0.1%

The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. The stock’s 50-day simple moving average is $40.46 and its two-hundred day simple moving average is $42.59. The firm has a market capitalization of $4.02 billion, a P/E ratio of 66.67 and a beta of 0.30.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, beating the consensus estimate of ($0.87) by $1.98. Telephone and Data Systems had a return on equity of 5.54% and a net margin of 6.15%.The business had revenue of $309.45 million for the quarter, compared to the consensus estimate of $313.27 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Telephone and Data Systems, Inc. will post 0.94 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, June 16th. Telephone and Data Systems’s payout ratio is currently 30.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors lifted its holdings in shares of Telephone and Data Systems by 3.8% in the 4th quarter. Captrust Financial Advisors now owns 6,026 shares of the Wireless communications provider’s stock valued at $247,000 after acquiring an additional 220 shares during the last quarter. Salomon & Ludwin LLC raised its stake in shares of Telephone and Data Systems by 51.3% during the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock valued at $28,000 after acquiring an additional 231 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Telephone and Data Systems by 2.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider’s stock worth $402,000 after buying an additional 232 shares during the period. Maryland State Retirement & Pension System grew its holdings in Telephone and Data Systems by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 14,362 shares of the Wireless communications provider’s stock worth $589,000 after acquiring an additional 233 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Telephone and Data Systems by 4.3% during the fourth quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock valued at $241,000 after purchasing an additional 240 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.