Telephone and Data Systems, Inc. (NYSE:TDS) Sees Large Drop in Short Interest

Telephone and Data Systems, Inc. (NYSE:TDS) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 2,810,000 shares, a drop of 14.1% from the November 30th total of 3,270,000 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is presently 2.8 days.

Telephone and Data Systems Stock Up 0.2 %

TDS opened at $34.84 on Monday. The business’s 50-day moving average price is $32.22 and its 200-day moving average price is $25.49. The company has a market cap of $3.94 billion, a P/E ratio of -6.45 and a beta of 0.81. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. Telephone and Data Systems has a 12 month low of $13.69 and a 12 month high of $35.39.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned ($0.16) EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts expect that Telephone and Data Systems will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. Telephone and Data Systems’s payout ratio is currently -2.96%.

Analyst Upgrades and Downgrades

TDS has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. 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 report on Thursday, November 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Telephone and Data Systems in the 2nd quarter valued at approximately $2,369,000. Algert Global LLC lifted its position in Telephone and Data Systems by 35.8% in the 2nd quarter. Algert Global LLC now owns 220,145 shares of the Wireless communications provider’s stock worth $4,564,000 after buying an additional 57,981 shares in the last quarter. 272 Capital LP increased its stake in shares of Telephone and Data Systems by 51.8% during the 2nd quarter. 272 Capital LP now owns 117,136 shares of the Wireless communications provider’s stock worth $2,428,000 after purchasing an additional 39,976 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Telephone and Data Systems in the third quarter worth $1,308,000. Finally, Texas Permanent School Fund Corp raised its stake in Telephone and Data Systems by 33.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 115,142 shares of the Wireless communications provider’s stock valued at $2,387,000 after purchasing an additional 28,866 shares during the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

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.