Telephone and Data Systems, Inc. (NYSE:TDS) Short Interest Up 23.9% in October

Telephone and Data Systems, Inc. (NYSE:TDS) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,160,000 shares, a growth of 23.9% from the October 15th total of 2,550,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 3.0 days. Currently, 3.2% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Telephone and Data Systems Trading Up 0.6 %

Shares of TDS stock traded up $0.19 on Friday, reaching $30.82. 219,944 shares of the stock were exchanged, compared to its average volume of 1,102,405. The firm has a 50 day moving average of $25.92 and a two-hundred day moving average of $22.25. The stock has a market cap of $3.48 billion, a P/E ratio of -5.71 and a beta of 0.77. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. Telephone and Data Systems has a 1-year low of $13.69 and a 1-year high of $34.57.

Telephone and Data Systems (NYSE:TDS) last announced its 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. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) earnings per share. On average, research analysts anticipate that Telephone and Data Systems will post -0.36 EPS for the current year.

Institutional Trading of Telephone and Data Systems

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of Telephone and Data Systems by 4,082.9% during the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 1,674 shares in the last quarter. Quarry LP acquired a new stake in Telephone and Data Systems during the 2nd quarter worth $40,000. CWM LLC increased its position in shares of Telephone and Data Systems by 57.0% during the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after acquiring an additional 1,430 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Telephone and Data Systems in the 2nd quarter valued at about $88,000. Finally, Natixis acquired a new position in Telephone and Data Systems during the 1st quarter worth approximately $96,000. 80.00% of the stock is owned by institutional investors.

Telephone and Data Systems Company Profile

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.