JPMorgan Chase & Co. Issues Positive Forecast for Telephone and Data Systems (NYSE:TDS) Stock Price

Telephone and Data Systems (NYSE:TDS) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $53.00 to $56.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 54.25% from the stock’s current price.

Separately, Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Thursday, November 7th.

Telephone and Data Systems Price Performance

Shares of Telephone and Data Systems stock opened at $36.31 on Monday. The company has a market cap of $4.10 billion, a PE ratio of -6.72 and a beta of 0.80. The business has a 50 day moving average of $35.64 and a 200 day moving average of $29.98. Telephone and Data Systems has a 52 week low of $13.92 and a 52 week high of $41.21. 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 quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.23. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. As a group, equities research analysts forecast that Telephone and Data Systems will post -0.31 earnings per share for the current year.

Institutional Trading of Telephone and Data Systems

A number of hedge funds have recently modified their holdings of the business. Independence Bank of Kentucky bought a new position in shares of Telephone and Data Systems in the 4th quarter worth about $41,000. Federated Hermes Inc. bought a new position in shares of Telephone and Data Systems during the fourth quarter valued at approximately $56,000. Quarry LP increased its stake in shares of Telephone and Data Systems by 35.5% during the third quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock valued at $61,000 after purchasing an additional 692 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Telephone and Data Systems during the fourth quarter valued at approximately $74,000. Finally, Versant Capital Management Inc boosted its position in shares of Telephone and Data Systems by 14.5% in the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock worth $82,000 after purchasing an additional 303 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

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.