Telephone & Data Systems (NYSE:TDS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $30.00 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.26% from the company’s current price.
According to Zacks, “Telephone & Data Systems posted strong fourth-quarter 2017 results. The company also experienced strong results at its wireless wing, U.S. Cellular. The company's IPTV is also doing considerably well, evident from 48,600 connections in the reported quarter (up 7.3% y/y). The company continues to look for lucrative opportunities to bring in more fiber in order to better serve customers' growing TV and broadband service demand. The company continues to expand its business in the managed hosting and cloud service market. Launch of Shared Data plans at nominal prices should help the company gain consumers. However, intense competition, roaming revenues related woes, costs associated with network integration and construction of new cell sites, aggressive equipment pricing, wireless technology upgrades and spectrum licensing are other risks. In the past three months, the stock price declined 2.5% as against the industry's loss of 1.5%.”
A number of other research firms have also recently commented on TDS. Drexel Hamilton raised Telephone & Data Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. ValuEngine cut Telephone & Data Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd.
Telephone & Data Systems (NYSE:TDS) last released its earnings results on Friday, February 23rd. The Wireless communications provider reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Telephone & Data Systems had a return on equity of 1.30% and a net margin of 3.03%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. equities research analysts predict that Telephone & Data Systems will post 0.35 EPS for the current year.
Several large investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB bought a new position in shares of Telephone & Data Systems during the fourth quarter valued at about $351,000. MetLife Investment Advisors LLC bought a new position in shares of Telephone & Data Systems during the fourth quarter valued at about $1,614,000. Macquarie Group Ltd. grew its stake in shares of Telephone & Data Systems by 76.8% during the fourth quarter. Macquarie Group Ltd. now owns 12,200 shares of the Wireless communications provider’s stock valued at $339,000 after buying an additional 5,300 shares during the last quarter. Vident Investment Advisory LLC grew its stake in shares of Telephone & Data Systems by 10.4% during the fourth quarter. Vident Investment Advisory LLC now owns 105,134 shares of the Wireless communications provider’s stock valued at $2,923,000 after buying an additional 9,913 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Telephone & Data Systems during the fourth quarter valued at about $328,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: This news story was originally published by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3227972/telephone-data-systems-tds-upgraded-to-buy-at-zacks-investment-research.html.
About Telephone & Data Systems
Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Telephone & Data Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telephone & Data Systems and related companies with MarketBeat.com's FREE daily email newsletter.