Telephone and Data Systems (NYSE:TDS) Shares Gap Down – Should You Sell?

Telephone and Data Systems, Inc. (NYSE:TDS) gapped down prior to trading on Friday . The stock had previously closed at $29.75, but opened at $28.62. Telephone and Data Systems shares last traded at $28.08, with a volume of 161,274 shares changing hands.

Telephone and Data Systems Stock Down 7.6 %

The business has a fifty day moving average of $24.58 and a 200 day moving average of $21.32. The firm has a market cap of $3.11 billion, a P/E ratio of -5.69 and a beta of 0.77. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 0.84.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.15. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Telephone and Data Systems, Inc. will post -0.44 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.04 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.58%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -3.31%.

Institutional Investors Weigh In On Telephone and Data Systems

Several large investors have recently modified their holdings of the business. Consolidated Planning Corp increased its holdings in shares of Telephone and Data Systems by 38.6% in the third quarter. Consolidated Planning Corp now owns 28,453 shares of the Wireless communications provider’s stock worth $662,000 after acquiring an additional 7,918 shares in the last quarter. Innealta Capital LLC boosted its position in shares of Telephone and Data Systems by 8.0% during the third quarter. Innealta Capital LLC now owns 11,313 shares of the Wireless communications provider’s stock worth $263,000 after buying an additional 835 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Telephone and Data Systems by 13.4% during the third quarter. Pinnacle Associates Ltd. now owns 468,809 shares of the Wireless communications provider’s stock worth $10,900,000 after buying an additional 55,434 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Telephone and Data Systems during the third quarter worth about $1,208,000. Finally, Everence Capital Management Inc. boosted its position in shares of Telephone and Data Systems by 7.3% during the third quarter. Everence Capital Management Inc. now owns 12,840 shares of the Wireless communications provider’s stock worth $299,000 after buying an additional 870 shares during the period. 80.00% of the stock is currently owned by 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.