Telephone and Data Systems (NYSE:TDS) Hits New 1-Year High Following Dividend Announcement

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $34.75 and last traded at $34.45, with a volume of 17010 shares changing hands. The stock had previously closed at $34.32.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is -2.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TDS shares. JPMorgan Chase & Co. lifted their price target on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research note on Thursday, November 7th.

Telephone and Data Systems Stock Performance

The stock’s 50-day moving average price is $27.65 and its 200-day moving average price is $23.32. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $3.86 billion, a P/E ratio of -6.32 and a beta of 0.77.

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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. Telephone and Data Systems’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.16) earnings per share. As a group, equities analysts expect that Telephone and Data Systems, Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDS. Russell Investments Group Ltd. lifted its stake in Telephone and Data Systems by 19.2% in the first quarter. Russell Investments Group Ltd. now owns 9,781 shares of the Wireless communications provider’s stock valued at $157,000 after buying an additional 1,575 shares during the last quarter. Vanguard Group Inc. grew 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 worth $201,365,000 after purchasing an additional 320,976 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Telephone and Data Systems by 19.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 109,275 shares of the Wireless communications provider’s stock worth $1,749,000 after purchasing an additional 17,472 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Telephone and Data Systems in the first quarter worth $388,000. Finally, Tidal Investments LLC bought a new position in shares of Telephone and Data Systems in the first quarter worth $1,048,000. Institutional investors and hedge funds own 80.00% 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 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.