JPMorgan Chase & Co. Has Lowered Expectations for Telephone and Data Systems (NYSE:TDS) Stock Price

Telephone and Data Systems (NYSE:TDS) had its price target cut by equities researchers at JPMorgan Chase & Co. from $51.00 to $48.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 37.77% from the stock’s previous close.

Several other research analysts have also weighed in on TDS. Citigroup dropped their price target on Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Wall Street Zen raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Zacks Research upgraded Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Finally, Raymond James Financial cut shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Telephone and Data Systems Stock Up 2.0%

NYSE:TDS traded up $0.67 during trading hours on Wednesday, hitting $34.84. 336,774 shares of the stock traded hands, compared to its average volume of 1,020,800. The firm has a 50 day moving average price of $35.79 and a 200 day moving average price of $40.92. The company has a current ratio of 3.82, a quick ratio of 3.81 and a debt-to-equity ratio of 0.15. Telephone and Data Systems has a fifty-two week low of $31.51 and a fifty-two week high of $49.12. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 11.60 and a beta of 0.32.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, August 7th. The Wireless communications provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $2.15. The company had revenue of $309.28 million during the quarter, compared to analyst estimates of $315.78 million. Telephone and Data Systems had a return on equity of 11.97% and a net margin of 33.20%.The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Equities research analysts anticipate that Telephone and Data Systems will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TDS. Captrust Financial Advisors lifted its stake in Telephone and Data Systems by 3.8% during the fourth quarter. Captrust Financial Advisors now owns 6,026 shares of the Wireless communications provider’s stock worth $247,000 after purchasing an additional 220 shares during the last quarter. Salomon & Ludwin LLC raised its stake in Telephone and Data Systems by 51.3% during the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock worth $28,000 after acquiring an additional 231 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Telephone and Data Systems by 2.4% in the fourth quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider’s stock worth $402,000 after acquiring an additional 232 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Telephone and Data Systems by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 14,362 shares of the Wireless communications provider’s stock valued at $589,000 after purchasing an additional 233 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Telephone and Data Systems by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock valued at $241,000 after purchasing an additional 240 shares during the last quarter. 80.00% of the stock is owned by institutional investors.

Telephone and Data Systems Company Profile

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.