Telephone and Data Systems (NYSE:TDS) Issues Earnings Results

Telephone and Data Systems (NYSE:TDS – Get Rating) released its earnings results on Thursday. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11, RTT News reports. Telephone and Data Systems had a net margin of 2.99% and a return on equity of 2.81%. During the same quarter in the prior year, the firm posted $0.17 EPS.

Telephone and Data Systems Stock Up 5.6 %

Shares of NYSE TDS traded up $0.85 during midday trading on Friday, reaching $16.15. The company’s stock had a trading volume of 2,941,969 shares, compared to its average volume of 1,028,290. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 18.15 and a beta of 1.02. Telephone and Data Systems has a fifty-two week low of $14.46 and a fifty-two week high of $21.47. The stock has a 50 day simple moving average of $15.86 and a 200-day simple moving average of $17.89. The company has a current ratio of 1.87, a quick ratio of 1.70 and a debt-to-equity ratio of 0.63.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, June 14th. Telephone and Data Systems’s payout ratio is 80.90%.

Insider Activity at Telephone and Data Systems

In related news, Director Clarence A. Davis sold 4,300 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $18.33, for a total value of $78,819.00. Following the completion of the transaction, the director now owns 15,511 shares of the company’s stock, valued at $284,316.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Telephone and Data Systems

A number of large investors have recently made changes to their positions in the company. Covestor Ltd increased its position in Telephone and Data Systems by 56.2% during the 1st quarter. Covestor Ltd now owns 3,954 shares of the Wireless communications provider’s stock worth $75,000 after buying an additional 1,422 shares during the period. Captrust Financial Advisors boosted its holdings in Telephone and Data Systems by 188.8% in the 1st quarter. Captrust Financial Advisors now owns 7,410 shares of the Wireless communications provider’s stock valued at $140,000 after purchasing an additional 4,844 shares during the period. Atria Wealth Solutions Inc. bought a new stake in Telephone and Data Systems in the 1st quarter valued at about $313,000. Jane Street Group LLC grew its position in shares of Telephone and Data Systems by 188.3% during the 1st quarter. Jane Street Group LLC now owns 47,237 shares of the Wireless communications provider’s stock worth $892,000 after purchasing an additional 30,852 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Telephone and Data Systems by 53.9% during the first quarter. MetLife Investment Management LLC now owns 53,418 shares of the Wireless communications provider’s stock worth $1,009,000 after purchasing an additional 18,700 shares during the period. Institutional investors own 86.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley downgraded shares of Telephone and Data Systems from an “overweight” rating to an “equal weight” rating and set a $22.00 target price for the company. in a research note on Tuesday, April 19th.

Telephone and Data Systems Company Profile

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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, routers, 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.