Telephone and Data Systems (NYSE:TDS) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of Telephone and Data Systems (NYSE:TDS) from a market perform rating to an outperform rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. Raymond James currently has $51.00 price objective on the Wireless communications provider’s stock.

Separately, JPMorgan Chase & Co. increased their target price on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th.

Telephone and Data Systems Trading Down 1.4 %

NYSE:TDS opened at $31.99 on Thursday. The firm’s 50 day moving average is $25.33 and its two-hundred day moving average is $21.82. Telephone and Data Systems has a fifty-two week low of $13.69 and a fifty-two week high of $34.57. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS) last issued 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted ($0.16) EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Telephone and Data Systems will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TDS. TCW Group Inc. grew its stake in shares of Telephone and Data Systems by 15.8% in the second quarter. TCW Group Inc. now owns 549,432 shares of the Wireless communications provider’s stock valued at $11,390,000 after buying an additional 74,913 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Telephone and Data Systems in the first quarter valued at approximately $745,000. Tidal Investments LLC purchased a new stake in shares of Telephone and Data Systems during the first quarter valued at approximately $1,048,000. UniSuper Management Pty Ltd acquired a new position in shares of Telephone and Data Systems during the first quarter worth $401,000. Finally, Vanguard Group Inc. boosted its stake in shares of Telephone and Data Systems by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider’s stock valued at $201,365,000 after purchasing an additional 320,976 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

About Telephone and Data Systems

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.