4,263 Shares in Telephone and Data Systems, Inc. (TDS) Acquired by Zions Bancorporation
Zions Bancorporation bought a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,263 shares of the Wireless communications provider’s stock, valued at approximately $119,000.
Other hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Telephone and Data Systems by 11.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,795 shares of the Wireless communications provider’s stock worth $105,000 after acquiring an additional 387 shares in the last quarter. Sei Investments Co. lifted its holdings in Telephone and Data Systems by 13.9% during the second quarter. Sei Investments Co. now owns 4,868 shares of the Wireless communications provider’s stock worth $135,000 after acquiring an additional 594 shares in the last quarter. Macquarie Group Ltd. bought a new position in Telephone and Data Systems during the third quarter worth about $192,000. World Asset Management Inc bought a new position in Telephone and Data Systems during the third quarter worth about $203,000. Finally, Wedge Capital Management L L P NC bought a new position in Telephone and Data Systems during the second quarter worth about $209,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.
Several research firms have weighed in on TDS. Zacks Investment Research lowered Telephone and Data Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Drexel Hamilton upgraded Telephone and Data Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.00.
Shares of Telephone and Data Systems, Inc. (NYSE TDS) traded down $0.62 during trading on Friday, hitting $26.24. The stock had a trading volume of 542,500 shares, compared to its average volume of 678,102. The company has a market capitalization of $2,999.22, a price-to-earnings ratio of 60.04 and a beta of 0.98. Telephone and Data Systems, Inc. has a 12 month low of $24.57 and a 12 month high of $32.97. The company has a current ratio of 2.42, a quick ratio of 2.29 and a debt-to-equity ratio of 0.54.
Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. Telephone and Data Systems had a negative net margin of 2.77% and a positive return on equity of 1.08%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. analysts expect that Telephone and Data Systems, Inc. will post -1.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.36%. Telephone and Data Systems’s dividend payout ratio (DPR) is -48.82%.
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Telephone and Data Systems Company Profile
Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).
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