Telephone & Data Systems, Inc. (TDS) Expected to Post Quarterly Sales of $1.29 Billion
Equities analysts expect Telephone & Data Systems, Inc. (NYSE:TDS) to announce sales of $1.29 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Telephone & Data Systems’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.27 billion. Telephone & Data Systems reported sales of $1.28 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The company is scheduled to announce its next quarterly earnings results before the market opens on Friday, February 23rd.
According to Zacks, analysts expect that Telephone & Data Systems will report full year sales of $1.29 billion for the current fiscal year, with estimates ranging from $5.01 billion to $5.04 billion. For the next financial year, analysts forecast that the business will post sales of $5.04 billion per share, with estimates ranging from $4.93 billion to $5.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Telephone & Data Systems.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Telephone & Data Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Drexel Hamilton raised shares of Telephone & Data Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, ValuEngine downgraded shares of Telephone & Data Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $29.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation bought a new position in Telephone & Data Systems in the 3rd quarter worth approximately $119,000. Tiedemann Wealth Management LLC bought a new position in Telephone & Data Systems in the 3rd quarter worth approximately $128,000. State of Alaska Department of Revenue bought a new position in Telephone & Data Systems in the 4th quarter worth approximately $158,000. Macquarie Group Ltd. bought a new position in Telephone & Data Systems in the 3rd quarter worth approximately $192,000. Finally, World Asset Management Inc bought a new position in Telephone & Data Systems in the 3rd quarter worth approximately $203,000. 82.84% of the stock is owned by institutional investors.
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About Telephone & Data Systems
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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