Telephone and Data Systems, Inc. (TDS) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Telephone and Data Systems, Inc. (NYSE:TDS) from a hold rating to a buy rating in a report released on Monday morning. Zacks Investment Research currently has $29.00 target price on the Wireless communications provider’s stock.
According to Zacks, “Telephone and Data Systems posted weak third-quarter 2017 results. Despite such results, the company is looking for lucrative opportunities to bring more fiber in order to better address services. By leveraging on fiber, the telco is trying to respond to customers' growing TV and broadband service demand. The company continues to expand its business in the managed hosting and cloud service market. Launch of Shared Data plans at nominal prices should help the company gain consumers. The company's IPTV is also doing considerably well. It continues to experience strong smartphone demand at its wireless wing, U.S. Cellular. Over the past three months, the stock price declined 13.2% while the industry lost 11.6%. However, intense competition, roaming revenues related woes, costs associated with network integration and construction of new cell sites, aggressive equipment pricing, wireless technology upgrades and spectrum licensing are other risks.”
A number of other brokerages have also recently commented on TDS. BidaskClub raised Telephone and Data Systems from a sell rating to a hold rating in a research note on Tuesday, July 25th. Drexel Hamilton raised Telephone and Data Systems from a hold rating to a buy rating in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Telephone and Data Systems has a consensus rating of Hold and an average price target of $29.00.
Shares of Telephone and Data Systems (TDS) traded down $0.27 during trading on Monday, reaching $25.22. The company’s stock had a trading volume of 862,900 shares, compared to its average volume of 693,105. The company has a quick ratio of 2.29, a current ratio of 2.42 and a debt-to-equity ratio of 0.54. Telephone and Data Systems has a 12-month low of $24.57 and a 12-month high of $32.97. The firm has a market capitalization of $2,819.58, a PE ratio of 56.64, a PEG ratio of 10.26 and a beta of 1.02.
Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Wednesday, November 8th. The Wireless communications provider reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). Telephone and Data Systems had a negative net margin of 2.77% and a positive return on equity of 1.08%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted $0.11 EPS. The company’s revenue was down 4.8% on a year-over-year basis. analysts expect that Telephone and Data Systems will post 0.5 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Telephone and Data Systems by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,795 shares of the Wireless communications provider’s stock valued at $105,000 after purchasing an additional 387 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Telephone and Data Systems by 13.9% in the second quarter. Sei Investments Co. now owns 4,868 shares of the Wireless communications provider’s stock valued at $135,000 after purchasing an additional 594 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Telephone and Data Systems in the third quarter valued at approximately $192,000. World Asset Management Inc bought a new position in shares of Telephone and Data Systems in the third quarter valued at approximately $203,000. Finally, LS Investment Advisors LLC lifted its holdings in shares of Telephone and Data Systems by 20.0% in the second quarter. LS Investment Advisors LLC now owns 7,451 shares of the Wireless communications provider’s stock valued at $207,000 after purchasing an additional 1,242 shares in the last quarter. Institutional investors own 82.27% of the company’s stock.
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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