Telephone and Data Systems, Inc. (NYSE:TDS) Stock Has Average Price Target of $47.50

Telephone and Data Systems, Inc. (NYSE:TDS) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $47.50.

A number of equities analysts have recently weighed in on TDS shares. JPMorgan Chase & Co. dropped their target price on Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Zacks Research cut shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. Citigroup lowered their price objective on shares of Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Telephone and Data Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS opened at $35.42 on Friday. The company’s fifty day moving average is $35.23 and its two-hundred day moving average is $37.84. The company has a market cap of $4.08 billion, a P/E ratio of 9.30 and a beta of 0.32. Telephone and Data Systems has a 12-month low of $30.71 and a 12-month high of $49.12. The company has a quick ratio of 3.81, a current ratio of 3.82 and a debt-to-equity ratio of 0.15.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, August 7th. The Wireless communications provider reported $2.24 EPS for the quarter, topping the consensus estimate of $0.09 by $2.15. Telephone and Data Systems had a return on equity of 11.97% and a net margin of 33.20%. The business had revenue of $309.28 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter last year, the firm posted ($0.05) earnings per share. Telephone and Data Systems’s revenue was up 3.6% compared to the same quarter last year. Equities analysts expect that Telephone and Data Systems will post -0.24 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 15th. Telephone and Data Systems’s payout ratio is currently 5.33%.

Hedge Funds Weigh In On Telephone and Data Systems

A number of hedge funds have recently modified their holdings of TDS. Bank of New York Mellon Corp acquired a new stake in shares of Telephone and Data Systems in the second quarter valued at about $31,096,000. Oaktree Capital Management LP lifted its position in shares of Telephone and Data Systems by 16.4% during the 1st quarter. Oaktree Capital Management LP now owns 4,292,243 shares of the Wireless communications provider’s stock worth $180,703,000 after purchasing an additional 603,857 shares during the last quarter. Rokos Capital Management LLP bought a new stake in Telephone and Data Systems during the 1st quarter valued at approximately $21,040,000. Knighthead Capital Management LLC bought a new stake in Telephone and Data Systems during the 1st quarter valued at approximately $18,764,000. Finally, Carronade Capital Management LP boosted its stake in Telephone and Data Systems by 10.0% during the 1st quarter. Carronade Capital Management LP now owns 4,623,934 shares of the Wireless communications provider’s stock valued at $194,668,000 after purchasing an additional 420,340 shares during the period. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE:TDS) is a telecommunications holding company that provides broadband and communications services in communities across the United States. Its principal operating business is TDS Telecom, which serves residential, business and wholesale customers with internet access, fiber-optic and other broadband connections, voice services, video entertainment and related communications solutions.

TDS Telecom focuses on expanding high-speed broadband availability in rural and suburban markets.