Telephone and Data Systems (NYSE:TDS) Shares Gap Down – What’s Next?

Telephone and Data Systems, Inc. (NYSE:TDS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $29.75, but opened at $28.62. Telephone and Data Systems shares last traded at $28.08, with a volume of 161,274 shares changing hands.

Telephone and Data Systems Stock Down 5.3 %

The stock’s 50 day moving average is $24.47 and its 200 day moving average is $21.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.51. The company has a market capitalization of $3.18 billion, a PE ratio of -5.82 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.44 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, September 16th. This represents a $0.16 annualized dividend and a yield of 0.57%. Telephone and Data Systems’s dividend payout ratio is currently -3.31%.

Institutional Trading of Telephone and Data Systems

Several institutional investors and hedge funds have recently bought and sold shares of TDS. Consolidated Planning Corp raised its position in shares of Telephone and Data Systems by 38.6% in the third quarter. Consolidated Planning Corp now owns 28,453 shares of the Wireless communications provider’s stock worth $662,000 after buying an additional 7,918 shares in the last quarter. Innealta Capital LLC lifted its position in Telephone and Data Systems by 8.0% during the third quarter. Innealta Capital LLC now owns 11,313 shares of the Wireless communications provider’s stock valued at $263,000 after purchasing an additional 835 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Telephone and Data Systems by 13.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 468,809 shares of the Wireless communications provider’s stock worth $10,900,000 after buying an additional 55,434 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Telephone and Data Systems in the 3rd quarter worth $1,208,000. Finally, Everence Capital Management Inc. raised its position in shares of Telephone and Data Systems by 7.3% during the 3rd quarter. Everence Capital Management Inc. now owns 12,840 shares of the Wireless communications provider’s stock valued at $299,000 after buying an additional 870 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

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.