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

Telephone and Data Systems (NYSE:TDSGet 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

(Get Rating)

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.

See Also

Earnings History for Telephone and Data Systems (NYSE:TDS)

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