Telephone and Data Systems (NYSE:TDS) Sets New 12-Month High After Dividend Announcement

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $34.75 and last traded at $34.45, with a volume of 17010 shares trading 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 given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. Telephone and Data Systems’s dividend payout ratio (DPR) is -2.96%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TDS shares. JPMorgan Chase & Co. lifted their price objective on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Raymond James upgraded 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 Stock Performance

The business’s 50 day moving average price is $27.44 and its two-hundred day moving average price is $23.24. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.19. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates 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%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the business earned ($0.16) earnings per share. Research analysts expect that Telephone and Data Systems, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Telephone and Data Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Telephone and Data Systems by 4,082.9% in the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 1,674 shares during the period. Quarry LP purchased a new position in shares of Telephone and Data Systems during the 2nd quarter worth $40,000. CWM LLC grew its position in shares of Telephone and Data Systems by 57.0% during the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock valued at $82,000 after acquiring an additional 1,430 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Telephone and Data Systems in the 2nd quarter worth $88,000. Finally, GAMMA Investing LLC increased its stake in shares of Telephone and Data Systems by 13.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock worth $100,000 after purchasing an additional 585 shares in the last quarter. Institutional investors 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.