Drexel Hamilton Reiterates “$38.00” Price Target for Telephone & Data Systems Inc. (TDS)
Telephone & Data Systems Inc. (NYSE:TDS) received a $38.00 price target from research analysts at Drexel Hamilton in a note issued to investors on Monday. The firm presently has a a “buy” rating on the stock. Drexel Hamilton’s price objective indicates a potential upside of 39.81% from the stock’s previous close.
TDS has been the topic of a number of other research reports. Zacks Investment Research cut shares of Telephone & Data Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Morgan Stanley reiterated a “hold” rating on shares of Telephone & Data Systems in a report on Thursday, June 30th.
Shares of Telephone & Data Systems (NYSE:TDS) traded down 0.48% during trading on Monday, hitting $27.05. The stock had a trading volume of 155,608 shares. The stock’s 50-day moving average is $27.83 and its 200-day moving average is $28.94. Telephone & Data Systems has a 12-month low of $20.83 and a 12-month high of $32.00. The stock has a market capitalization of $2.96 billion, a P/E ratio of 35.27 and a beta of 1.11.
Telephone & Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.12. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Telephone & Data Systems had a net margin of 1.67% and a return on equity of 1.57%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Analysts predict that Telephone & Data Systems will post $0.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.148 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 2.18%. Telephone & Data Systems’s dividend payout ratio is presently 76.62%.
In related news, Director Kenneth R. Meyers sold 43,200 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $29.48, for a total value of $1,273,536.00. Following the sale, the director now owns 40,614 shares in the company, valued at approximately $1,197,300.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Wittwer sold 109,791 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $30.62, for a total transaction of $3,361,800.42. Following the completion of the sale, the insider now owns 144,531 shares in the company, valued at approximately $4,425,539.22. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Sei Investments Co. raised its stake in Telephone & Data Systems by 243.4% in the second quarter. Sei Investments Co. now owns 4,955 shares of the company’s stock worth $147,000 after buying an additional 3,512 shares in the last quarter. LS Investment Advisors LLC raised its stake in Telephone & Data Systems by 76.2% in the second quarter. LS Investment Advisors LLC now owns 5,668 shares of the company’s stock worth $168,000 after buying an additional 2,452 shares in the last quarter. Bank of Montreal Can acquired a new stake in Telephone & Data Systems during the second quarter worth $184,000. Cubist Systematic Strategies LLC acquired a new stake in Telephone & Data Systems during the second quarter worth $214,000. Finally, Zacks Investment Management acquired a new stake in Telephone & Data Systems during the second quarter worth $224,000. Institutional investors own 80.30% of the company’s stock.
About Telephone & Data Systems
Telephone and Data Systems, Inc is a diversified telecommunications company. The Company conducts its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular). It provides Wireline services, cable services and hosted and managed services, through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).
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