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

Telephone and Data Systems, Inc. (NYSE:TDS) shares gapped down before the market opened 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.

Telephone and Data Systems Trading Down 5.3 %

The stock has a market cap of $3.18 billion, a P/E ratio of -5.82 and a beta of 0.81. 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 firm’s fifty day simple moving average is $24.47 and its 200-day simple moving average is $21.20.

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

Telephone and Data Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.04 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.57%. Telephone and Data Systems’s payout ratio is currently -3.31%.

Hedge Funds Weigh In On Telephone and Data Systems

A number of institutional investors and hedge funds have recently modified their holdings of TDS. Vanguard Group Inc. grew its holdings in Telephone and Data Systems by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider’s stock worth $201,365,000 after purchasing an additional 320,976 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Telephone and Data Systems by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider’s stock worth $124,761,000 after acquiring an additional 507,512 shares in the last quarter. American Century Companies Inc. grew its stake in Telephone and Data Systems by 8.4% in the second quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider’s stock valued at $55,058,000 after acquiring an additional 206,819 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Telephone and Data Systems by 4.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,092,042 shares of the Wireless communications provider’s stock worth $33,515,000 after purchasing an additional 88,994 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Telephone and Data Systems by 34.0% during the second quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock worth $40,430,000 after buying an additional 495,189 shares during the last quarter. 80.00% of the stock is currently owned by 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.