Telephone & Data Systems, Inc. (NYSE:TDS) announced a quarterly dividend on Friday, May 22nd, RTT News reports. Shareholders of record on Tuesday, June 16th will be given a dividend of 0.17 per share by the Wireless communications provider on Tuesday, June 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.50%.
Telephone & Data Systems has increased its dividend payment by an average of 3.1% per year over the last three years and has raised its dividend annually for the last 45 consecutive years. Telephone & Data Systems has a dividend payout ratio of 54.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Telephone & Data Systems to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 49.6%.
Shares of Telephone & Data Systems stock traded up $0.28 during trading hours on Friday, reaching $19.43. 154,852 shares of the stock traded hands, compared to its average volume of 783,908. The company has a 50 day moving average price of $18.14 and a 200 day moving average price of $21.61. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.10 and a beta of 1.11. Telephone & Data Systems has a one year low of $14.05 and a one year high of $34.00. The company has a quick ratio of 1.92, a current ratio of 2.17 and a debt-to-equity ratio of 0.60.
A number of brokerages recently issued reports on TDS. Raymond James cut their price objective on Telephone & Data Systems from $30.00 to $29.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. cut their price objective on Telephone & Data Systems from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, March 27th. Zacks Investment Research upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Saturday, May 9th. Citigroup cut their price objective on Telephone & Data Systems from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Morgan Stanley cut their price objective on Telephone & Data Systems from $47.00 to $42.50 and set an “overweight” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Telephone & Data Systems has a consensus rating of “Buy” and an average price target of $31.58.
About Telephone & Data Systems
Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and business customers located in its service territories; national plans with voice, messaging, and data usage options; and advanced wireless solutions, such as machine-to-machine solution and software applications for various categories of monitor and control, business automation/operations, communication, and asset management.
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