Telephone and Data Systems (NYSE:TDS) Shares Down 8.2%

Telephone and Data Systems, Inc. (NYSE:TDS)’s share price traded down 8.2% during trading on Friday . The stock traded as low as $14.88 and last traded at $14.88. 255,370 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 926,443 shares. The stock had previously closed at $16.21.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th.

Telephone and Data Systems Stock Down 11.4 %

The firm’s fifty day simple moving average is $15.61 and its 200 day simple moving average is $17.39. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -2.84 and a beta of 0.81. The company has a current ratio of 1.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.83.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.15. Telephone and Data Systems had a positive return on equity of 0.21% and a negative net margin of 9.69%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business earned ($0.08) EPS. Telephone and Data Systems’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts predict that Telephone and Data Systems, Inc. will post -1 earnings per share for the current year.

Telephone and Data Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Telephone and Data Systems’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 5.29%. Telephone and Data Systems’s payout ratio is -15.05%.

Hedge Funds Weigh In On Telephone and Data Systems

Several hedge funds have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Telephone and Data Systems in the 4th quarter valued at about $25,000. Anchor Investment Management LLC purchased a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $46,000. Quarry LP acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth about $60,000. GAMMA Investing LLC purchased a new position in shares of Telephone and Data Systems during the fourth quarter worth about $93,000. Finally, Quadrant Capital Group LLC increased its position in Telephone and Data Systems by 14.0% in the 4th quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider’s stock valued at $93,000 after acquiring an additional 622 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

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.