Telephone and Data Systems (NYSE:TDS) Given New $29.00 Price Target at Citigroup

Telephone and Data Systems (NYSE:TDS) had its price target boosted by Citigroup from $27.00 to $29.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a buy rating on the Wireless communications provider’s stock. The analysts noted that the move was a valuation call.

A number of other analysts have also recently issued reports on TDS. TheStreet raised Telephone and Data Systems from a c+ rating to a b- rating in a research note on Friday, February 12th. Raymond James lowered their target price on Telephone and Data Systems from $34.00 to $32.00 and set a strong-buy rating for the company in a research note on Thursday, February 25th. Morgan Stanley decreased their price target on shares of Telephone and Data Systems from $42.50 to $38.50 and set an overweight rating for the company in a research note on Thursday, January 14th. JPMorgan Chase & Co. raised their price target on shares of Telephone and Data Systems from $22.00 to $27.00 and gave the stock a neutral rating in a research note on Wednesday, May 12th. Finally, Zacks Investment Research cut shares of Telephone and Data Systems from a hold rating to a strong sell rating and set a $20.00 price target for the company. in a research note on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $28.64.

Shares of TDS stock opened at $25.72 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.77 and a quick ratio of 2.60. The stock has a market cap of $2.94 billion, a PE ratio of 13.47 and a beta of 1.17. The stock has a 50-day moving average of $23.62 and a 200-day moving average of $20.47. Telephone and Data Systems has a one year low of $16.38 and a one year high of $26.03.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Wednesday, May 5th. The Wireless communications provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.12. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Telephone and Data Systems had a return on equity of 4.08% and a net margin of 4.32%. Telephone and Data Systems’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. As a group, research analysts anticipate that Telephone and Data Systems will post 1.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were issued a dividend of $0.175 per share. This is an increase from Telephone and Data Systems’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, March 16th. This represents a $0.70 annualized dividend and a yield of 2.72%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently 67.96%.

In other Telephone and Data Systems news, SVP Joseph R. Hanley sold 13,880 shares of the firm’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $22.87, for a total transaction of $317,435.60. Following the completion of the sale, the senior vice president now owns 13,771 shares of the company’s stock, valued at approximately $314,942.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.46% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership increased its position in shares of Telephone and Data Systems by 158.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,435,449 shares of the Wireless communications provider’s stock worth $32,958,000 after purchasing an additional 880,220 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Telephone and Data Systems by 89.5% in the first quarter. Public Employees Retirement System of Ohio now owns 93,664 shares of the Wireless communications provider’s stock worth $2,151,000 after purchasing an additional 44,237 shares during the period. Lazard Asset Management LLC increased its position in shares of Telephone and Data Systems by 46.8% in the first quarter. Lazard Asset Management LLC now owns 5,397 shares of the Wireless communications provider’s stock worth $123,000 after purchasing an additional 1,721 shares during the period. Vident Investment Advisory LLC increased its position in shares of Telephone and Data Systems by 55.0% in the first quarter. Vident Investment Advisory LLC now owns 94,054 shares of the Wireless communications provider’s stock worth $2,159,000 after purchasing an additional 33,361 shares during the period. Finally, Algert Global LLC bought a new position in shares of Telephone and Data Systems in the first quarter worth $200,000. Hedge funds and other institutional investors own 42.02% of the company’s stock.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through three segments: UScellular, Wireline, and Cable. 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, asset management, smart water solutions, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including headphones, smart speakers, and home automation and business management solutions.

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