JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Telephone and Data Systems (NYSE:TDS) Stock

Telephone and Data Systems (NYSE:TDS) had its price target increased by investment analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 40.30% from the company’s current price.

Telephone and Data Systems Price Performance

NYSE TDS opened at $28.51 on Monday. The company has a 50 day simple moving average of $24.81 and a 200-day simple moving average of $21.55. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -5.28 and a beta of 0.77. Telephone and Data Systems has a 52-week low of $13.69 and a 52-week high of $30.44.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. 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 $1.22 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that Telephone and Data Systems will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telephone and Data Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Telephone and Data Systems by 4,082.9% during the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock valued at $36,000 after purchasing an additional 1,674 shares during the last quarter. Quarry LP acquired a new position in Telephone and Data Systems during the second quarter valued at approximately $40,000. CWM LLC grew its holdings in Telephone and Data Systems by 57.0% during the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 1,430 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Telephone and Data Systems during the second quarter valued at approximately $88,000. Finally, GAMMA Investing LLC grew its holdings in Telephone and Data Systems by 13.8% during the second quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock valued at $100,000 after purchasing an additional 585 shares during the last quarter. Institutional investors and hedge funds 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.