Morgan Stanley Trims Telephone & Data Systems (NYSE:TDS) Target Price to $41.50

Telephone & Data Systems (NYSE:TDS) had its price target trimmed by Morgan Stanley from $42.50 to $41.50 in a research note published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the Wireless communications provider’s stock.

TDS has been the topic of a number of other reports. Raymond James reduced their price objective on shares of Telephone & Data Systems from $30.00 to $29.00 and set a strong-buy rating on the stock in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Telephone & Data Systems from $30.00 to $29.00 and set an overweight rating on the stock in a research note on Friday, March 27th. Zacks Investment Research raised shares of Telephone & Data Systems from a hold rating to a buy rating and set a $19.00 target price on the stock in a research note on Saturday, May 9th. Finally, B. Riley decreased their price target on shares of Telephone & Data Systems from $35.00 to $27.00 and set a buy rating for the company in a research note on Thursday, May 14th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $31.42.

NYSE:TDS opened at $19.92 on Wednesday. The firm’s fifty day moving average is $20.19 and its 200-day moving average is $20.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.92 and a current ratio of 2.17. Telephone & Data Systems has a 52 week low of $14.05 and a 52 week high of $33.63. The firm has a market cap of $2.24 billion, a P/E ratio of 17.79 and a beta of 1.11.

Telephone & Data Systems (NYSE:TDS) last posted its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.18. Telephone & Data Systems had a net margin of 2.55% and a return on equity of 2.44%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $0.50 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Telephone & Data Systems will post 0.96 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, June 15th. Telephone & Data Systems’s payout ratio is 66.02%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Telephone & Data Systems during the 4th quarter valued at $39,106,000. Point72 Asset Management L.P. lifted its stake in shares of Telephone & Data Systems by 4,568.3% in the fourth quarter. Point72 Asset Management L.P. now owns 718,924 shares of the Wireless communications provider’s stock valued at $18,282,000 after buying an additional 703,524 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Telephone & Data Systems by 242.9% during the fourth quarter. Marshall Wace LLP now owns 644,637 shares of the Wireless communications provider’s stock valued at $16,393,000 after buying an additional 456,632 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Telephone & Data Systems during the first quarter worth about $6,261,000. Finally, Deutsche Bank AG raised its holdings in shares of Telephone & Data Systems by 1,049.1% in the 1st quarter. Deutsche Bank AG now owns 382,940 shares of the Wireless communications provider’s stock worth $6,418,000 after acquiring an additional 349,616 shares during the last quarter. 81.84% of the stock is owned by institutional investors and hedge funds.

About Telephone & Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications 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 business customers located in its service territories; national plans with voice, messaging, and data usage options; and advanced wireless solutions, such as machine-to-machine solution and software applications for various categories of monitor and control, business automation/operations, communication, and asset management.

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