Telephone & Data Systems (NYSE:TDS)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday, Analyst Ratings Network.com reports. They currently have a $30.00 target price on the stock. Zacks‘ target price points to a potential upside of 6.04% from the company’s current price.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on Telephone and Data Systems. The company reported mixed second quarter results, with earnings surpassing the Zacks Consensus Estimate and improving year over year. Revenues, however, were down year over year and missed our expectation. Within the wireless segment, higher churn in the post-paid segment, increased equipment subsidies and investments in network upgrade would continue to affect results. Further, access line losses due to wireless substitution and other alternative services remain detrimental to growth. However, we believe these headwinds can be largely mitigated by several initiatives taken by the company like increasing handset offerings and expansion of LTE technology in the wireless business. Moreover, expansion into the rapidly developing managed hosting and cloud service offerings will likely aid profitability going forward.”
Telephone & Data Systems (NYSE:TDS) traded up 0.25% on Friday, hitting $28.36. The stock had a trading volume of 135,000 shares. Telephone & Data Systems has a 52 week low of $20.57 and a 52 week high of $29.63. The stock has a 50-day moving average of $28.10 and a 200-day moving average of $24.20. The company has a market cap of $3.071 billion and a price-to-earnings ratio of 21.43.
Telephone & Data Systems (NYSE:TDS) last announced its earnings results on Friday, August 2nd. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $1.32. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted $0.39 earnings per share. Telephone & Data Systems’s revenue was down 7.2% compared to the same quarter last year. On average, analysts predict that Telephone & Data Systems will post $0.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.13 per share. This represents a $0.51 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, September 12th.
Telephone and Data Systems, Inc (NYSE:TDS) is a diversified telecommunications service company.
To view Zacks’ full report, visit www.zacks.com