Telephone & Data Systems, Inc. (NYSE:TDS) Sees Significant Decrease in Short Interest

Telephone & Data Systems, Inc. (NYSE:TDS) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,910,000 shares, a drop of 10.7% from the August 15th total of 2,140,000 shares. Based on an average daily trading volume, of 748,900 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.9% of the company’s shares are sold short.

Shares of Telephone & Data Systems stock traded up $0.34 during trading on Monday, reaching $25.80. 526,623 shares of the stock were exchanged, compared to its average volume of 778,791. The company has a quick ratio of 2.24, a current ratio of 2.41 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $25.49 and its 200 day moving average is $29.80. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 22.05 and a beta of 1.10. Telephone & Data Systems has a 1 year low of $24.11 and a 1 year high of $37.29.

Telephone & Data Systems (NYSE:TDS) last posted its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Telephone & Data Systems had a return on equity of 2.89% and a net margin of 2.99%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. Equities analysts forecast that Telephone & Data Systems will post 1.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.56%. Telephone & Data Systems’s dividend payout ratio is currently 56.41%.

A number of research firms have recently weighed in on TDS. ValuEngine lowered shares of Telephone & Data Systems from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Morgan Stanley upgraded shares of Telephone & Data Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $47.50 in a report on Tuesday, June 18th. Zacks Investment Research upgraded shares of Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, July 2nd. TheStreet lowered shares of Telephone & Data Systems from a “b-” rating to a “c+” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upgraded shares of Telephone & Data Systems from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $31.00 in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $37.70.

In related news, Director Wade Oosterman acquired 5,000 shares of Telephone & Data Systems stock in a transaction dated Monday, August 19th. The shares were purchased at an average cost of $24.88 per share, with a total value of $124,400.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $124,400. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Prudence E. Carlson sold 3,510 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $24.96, for a total value of $87,609.60. Following the transaction, the director now directly owns 54,722 shares in the company, valued at $1,365,861.12. The disclosure for this sale can be found here. 14.33% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new stake in shares of Telephone & Data Systems during the second quarter worth about $26,000. Resources Investment Advisors LLC. purchased a new stake in Telephone & Data Systems in the second quarter worth about $46,000. Doyle Wealth Management purchased a new stake in Telephone & Data Systems in the second quarter worth about $79,000. Steward Partners Investment Advisory LLC purchased a new stake in Telephone & Data Systems in the second quarter worth about $99,000. Finally, NumerixS Investment Technologies Inc lifted its holdings in Telephone & Data Systems by 166.7% in the first quarter. NumerixS Investment Technologies Inc now owns 4,000 shares of the Wireless communications provider’s stock worth $124,000 after buying an additional 2,500 shares during the period. Institutional investors own 81.86% of the company’s stock.

Telephone & Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.

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