Telephone and Data Systems (NYSE:TDS) Hits New 1-Year High After Dividend Announcement

Telephone and Data Systems, Inc. (NYSE:TDS)’s stock price hit a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $34.75 and last traded at $34.45, with a volume of 17010 shares traded. The stock had previously closed at $34.32.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 16th. Telephone and Data Systems’s payout ratio is currently -2.96%.

Analyst Ratings Changes

TDS has been the subject of a number of analyst reports. Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th.

Telephone and Data Systems Price Performance

The firm has a market cap of $3.86 billion, a PE ratio of -6.32 and a beta of 0.77. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average price of $27.87 and a two-hundred day moving average price of $23.39.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.19. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. Telephone and Data Systems’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) EPS. As a group, equities analysts expect that Telephone and Data Systems, Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of Telephone and Data Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Telephone and Data Systems by 10.2% during the third quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider’s stock worth $123,000 after acquiring an additional 490 shares during the period. Victory Capital Management Inc. grew its stake in shares of Telephone and Data Systems by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 41,514 shares of the Wireless communications provider’s stock worth $861,000 after purchasing an additional 554 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Telephone and Data Systems by 14.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,146 shares of the Wireless communications provider’s stock valued at $107,000 after purchasing an additional 630 shares during the period. Aigen Investment Management LP lifted its stake in shares of Telephone and Data Systems by 5.3% in the 3rd quarter. Aigen Investment Management LP now owns 13,589 shares of the Wireless communications provider’s stock valued at $316,000 after purchasing an additional 685 shares during the period. Finally, Quarry LP boosted its holdings in Telephone and Data Systems by 35.5% during the third quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after buying an additional 692 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

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.