Telephone and Data Systems (NYSE:TDS) Price Target Lowered to $53.00 at JPMorgan Chase & Co.

Telephone and Data Systems (NYSE:TDS) had its price target decreased by JPMorgan Chase & Co. from $56.00 to $53.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the Wireless communications provider’s stock.

Separately, Raymond James restated an “outperform” rating and issued a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th.

Telephone and Data Systems Stock Performance

Shares of TDS opened at $34.82 on Wednesday. The business’s fifty day simple moving average is $35.80 and its two-hundred day simple moving average is $35.21. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. Telephone and Data Systems has a 12 month low of $16.64 and a 12 month high of $41.21. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -6.45 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. Research analysts anticipate that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -15.24%.

Hedge Funds Weigh In On Telephone and Data Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Independence Bank of Kentucky purchased a new position in shares of Telephone and Data Systems in the 4th quarter worth $41,000. Bayforest Capital Ltd boosted its stake in shares of Telephone and Data Systems by 121.8% in the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider’s stock worth $52,000 after buying an additional 737 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Telephone and Data Systems in the 4th quarter worth $56,000. SBI Securities Co. Ltd. purchased a new position in shares of Telephone and Data Systems in the 4th quarter worth $74,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Telephone and Data Systems by 74.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock worth $92,000 after buying an additional 1,156 shares during the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Company Profile

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, fixed wireless home internet, 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.