Telephone & Data Systems (NYSE:TDS) Rating Lowered to Hold at ValuEngine

Telephone & Data Systems (NYSE:TDS) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Wednesday, ValuEngine reports.

A number of other analysts also recently weighed in on the company. TheStreet downgraded Telephone & Data Systems from a “b-” rating to a “c+” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded Telephone & Data Systems from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Telephone & Data Systems has an average rating of “Hold” and a consensus price target of $38.20.

NYSE TDS traded up $0.16 on Wednesday, reaching $29.71. The stock had a trading volume of 615,400 shares, compared to its average volume of 795,109. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.42 and a quick ratio of 2.25. Telephone & Data Systems has a 1-year low of $24.00 and a 1-year high of $37.29. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 25.39 and a beta of 1.03.

Telephone & Data Systems (NYSE:TDS) last issued its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.14. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. Telephone & Data Systems had a return on equity of 2.92% and a net margin of 3.00%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities analysts anticipate that Telephone & Data Systems will post 1.03 earnings per share for the current fiscal year.

In related news, insider Kenneth R. Meyers sold 40,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $32.30, for a total transaction of $1,292,000.00. Following the completion of the sale, the insider now directly owns 32,305 shares in the company, valued at approximately $1,043,451.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Clarence A. Davis sold 2,410 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $30.18, for a total value of $72,733.80. Following the sale, the director now owns 9,500 shares of the company’s stock, valued at $286,710. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,277 shares of company stock valued at $1,990,275. Corporate insiders own 14.33% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Telephone & Data Systems by 37.1% during the third quarter. JPMorgan Chase & Co. now owns 363,394 shares of the Wireless communications provider’s stock worth $11,057,000 after buying an additional 98,398 shares during the period. Bank of Montreal Can lifted its position in shares of Telephone & Data Systems by 12.5% during the fourth quarter. Bank of Montreal Can now owns 38,639 shares of the Wireless communications provider’s stock worth $1,258,000 after purchasing an additional 4,303 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Telephone & Data Systems by 2.1% during the fourth quarter. Arizona State Retirement System now owns 66,718 shares of the Wireless communications provider’s stock worth $2,171,000 after purchasing an additional 1,366 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Telephone & Data Systems by 3.6% during the fourth quarter. Advisors Asset Management Inc. now owns 647,316 shares of the Wireless communications provider’s stock worth $21,064,000 after purchasing an additional 22,398 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Telephone & Data Systems by 43.1% during the fourth quarter. Rhumbline Advisers now owns 243,978 shares of the Wireless communications provider’s stock worth $7,939,000 after purchasing an additional 73,509 shares in the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.

Telephone & Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.

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