Telephone and Data Systems (NYSE:TDS) Sees Large Volume Increase

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) saw strong trading volume on Thursday . 6,823,496 shares changed hands during mid-day trading, an increase of 572% from the previous session’s volume of 1,015,227 shares.The stock last traded at $20.23 and had previously closed at $15.30.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Monday.

Telephone and Data Systems Price Performance

The business’s fifty day moving average price is $15.74 and its 200 day moving average price is $17.34. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.58 and a quick ratio of 1.40. The stock has a market cap of $2.22 billion, a P/E ratio of -4.04 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last posted its earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.15. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. Sell-side analysts forecast that Telephone and Data Systems, Inc. will post -1 EPS for the current fiscal year.

Telephone and Data Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.19 dividend. This is a boost from Telephone and Data Systems’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, March 14th. Telephone and Data Systems’s dividend payout ratio is -15.61%.

Hedge Funds Weigh In On Telephone and Data Systems

Hedge funds have recently modified their holdings of the business. Principal Securities Inc. acquired a new position in Telephone and Data Systems in the fourth quarter valued at $25,000. Anchor Investment Management LLC acquired a new stake in shares of Telephone and Data Systems during the 4th quarter worth approximately $46,000. Quarry LP bought a new stake in shares of Telephone and Data Systems in the 4th quarter valued at $60,000. GAMMA Investing LLC acquired a new position in shares of Telephone and Data Systems during the 4th quarter valued at $93,000. Finally, Quadrant Capital Group LLC boosted its stake in Telephone and Data Systems by 14.0% during the fourth quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider’s stock worth $93,000 after acquiring an additional 622 shares in the last quarter. Institutional investors and hedge funds 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.