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

Telephone and Data Systems, Inc. (NYSE:TDS) shares hit a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as $34.75 and last traded at $34.45, with a volume of 17010 shares trading hands. 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 paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 16th. Telephone and Data Systems’s payout ratio is -2.96%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 4th.

Telephone and Data Systems Stock Down 0.6 %

The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $3.86 billion, a PE ratio of -6.32 and a beta of 0.77. The firm has a 50-day moving average of $27.65 and a two-hundred day moving average of $23.32.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted ($0.16) EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Telephone and Data Systems, Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Telephone and Data Systems by 4,082.9% in the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock valued at $36,000 after acquiring an additional 1,674 shares during the period. Quarry LP purchased a new position in Telephone and Data Systems in the second quarter valued at about $40,000. CWM LLC raised its position in Telephone and Data Systems by 57.0% in 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 period. Neo Ivy Capital Management purchased a new stake in shares of Telephone and Data Systems during the 2nd quarter valued at about $88,000. Finally, GAMMA Investing LLC raised its holdings in shares of Telephone and Data Systems by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock valued at $100,000 after buying an additional 585 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.