Telephone and Data Systems (NYSE:TDS) Hits New 52-Week Low – Here’s Why

Telephone and Data Systems, Inc. (NYSE:TDS)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $35.17 and last traded at $35.4090, with a volume of 598674 shares traded. The stock had previously closed at $35.35.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TDS shares. Weiss Ratings cut shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Raymond James Financial cut shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Telephone and Data Systems presently has an average rating of “Hold” and an average price target of $53.33.

Telephone and Data Systems Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. The firm has a fifty day moving average of $40.07 and a two-hundred day moving average of $42.54. The stock has a market capitalization of $3.96 billion, a P/E ratio of 65.72 and a beta of 0.30.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $1.98. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The company had revenue of $309.45 million for the quarter, compared to analysts’ expectations of $313.27 million. During the same period in the prior year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Telephone and Data Systems, Inc. will post 0.94 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently 30.19%.

Hedge Funds Weigh In On Telephone and Data Systems

A number of large investors have recently bought and sold shares of the business. Salomon & Ludwin LLC increased its holdings in shares of Telephone and Data Systems by 51.3% in the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock valued at $28,000 after acquiring an additional 231 shares during the period. JPL Wealth Management LLC bought a new stake in Telephone and Data Systems during the third quarter valued at about $33,000. EverSource Wealth Advisors LLC boosted its position in Telephone and Data Systems by 29.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,085 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 245 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Telephone and Data Systems by 2,779.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. bought a new position in Telephone and Data Systems in the first quarter worth about $90,000. Institutional investors own 80.00% of the company’s stock.

About Telephone and Data Systems

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.