Telephone and Data Systems, Inc. (NYSE:TDS) Sees Large Decrease in Short Interest

Telephone and Data Systems, Inc. (NYSE:TDS) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 2,810,000 shares, a drop of 14.1% from the November 30th total of 3,270,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is currently 2.8 days. Currently, 2.9% of the shares of the stock are sold short.

Telephone and Data Systems Trading Up 0.3 %

Shares of NYSE TDS opened at $34.11 on Wednesday. Telephone and Data Systems has a 1-year low of $13.69 and a 1-year high of $35.39. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $32.47 and a two-hundred day moving average of $25.69. The company has a market cap of $3.85 billion, a PE ratio of -6.32 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.19. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company earned ($0.16) EPS. Telephone and Data Systems’s revenue was down 4.2% on a year-over-year basis. As a group, equities analysts expect that Telephone and Data Systems will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. Telephone and Data Systems’s dividend payout ratio is presently -2.96%.

Analyst Ratings Changes

Several research firms have recently weighed in on TDS. Raymond James raised shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 4th.

Hedge Funds Weigh In On Telephone and Data Systems

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Telephone and Data Systems in the 2nd quarter valued at about $40,000. CWM LLC increased its stake in Telephone and Data Systems by 26.8% in the third quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider’s stock valued at $116,000 after purchasing an additional 1,056 shares in the last quarter. GAMMA Investing LLC raised its holdings in Telephone and Data Systems by 10.2% in the third quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider’s stock worth $123,000 after purchasing an additional 490 shares during the period. Headlands Technologies LLC boosted its position in shares of Telephone and Data Systems by 328.9% during the second quarter. Headlands Technologies LLC now owns 5,974 shares of the Wireless communications provider’s stock worth $124,000 after purchasing an additional 4,581 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Telephone and Data Systems in the 3rd quarter valued at $210,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

About Telephone and Data Systems

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.