Telephone and Data Systems (NYSE:TDS) Stock Rating Lowered by Zacks Research

Telephone and Data Systems (NYSE:TDS) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

A number of other brokerages have also weighed in on TDS. Wall Street Zen raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. JPMorgan Chase & Co. reduced their target price on shares of Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Citigroup cut 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. Finally, Weiss Ratings upgraded Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.50.

Telephone and Data Systems Trading Down 1.1%

Shares of NYSE:TDS opened at $37.49 on Wednesday. Telephone and Data Systems has a 1 year low of $31.51 and a 1 year high of $49.12. The firm has a market capitalization of $4.32 billion, a P/E ratio of 12.50 and a beta of 0.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.82 and a quick ratio of 3.81. The business’s 50-day moving average is $34.66 and its 200 day moving average is $39.64.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, August 7th. The Wireless communications provider reported $2.24 EPS for the quarter, beating the consensus estimate of $0.09 by $2.15. The firm had revenue of $309.28 million during the quarter, compared to analyst estimates of $315.78 million. Telephone and Data Systems had a net margin of 33.20% and a return on equity of 11.97%. Telephone and Data Systems’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. On average, research analysts predict that Telephone and Data Systems will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telephone and Data Systems

A number of large investors have recently made changes to their positions in TDS. Tidal Investments LLC increased its position in Telephone and Data Systems by 310.4% during the second quarter. Tidal Investments LLC now owns 20,060 shares of the Wireless communications provider’s stock worth $742,000 after purchasing an additional 15,172 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Telephone and Data Systems in the second quarter valued at approximately $511,000. NewEdge Advisors LLC increased its stake in Telephone and Data Systems by 9.0% during the second quarter. NewEdge Advisors LLC now owns 81,383 shares of the Wireless communications provider’s stock worth $3,012,000 after acquiring an additional 6,692 shares during the last quarter. Nykredit A S purchased a new stake in Telephone and Data Systems in the second quarter valued at $59,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Telephone and Data Systems in the second quarter valued at $2,098,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

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.