Zacks Investment Research lowered shares of Telephone and Data Systems, Inc. (NYSE:TDS) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Telephone and Data Systems posted weak third-quarter 2017 results. Despite such results, the company is looking for lucrative opportunities to bring more fiber in order to better address services. By leveraging on fiber, the telco is trying to respond to customers' growing TV and broadband service demand. The company continues to expand its business in the managed hosting and cloud service market. Launch of Shared Data plans at nominal prices should help the company gain consumers. The company's IPTV is also doing considerably well. It continues to experience strong smartphone demand at its wireless wing, U.S. Cellular. Over the past three months, the stock underperformed its industry. However, intense competition, roaming revenues related woes, costs associated with network integration and construction of new cell sites, aggressive equipment pricing, wireless technology upgrades and spectrum licensing are other risks.”

TDS has been the topic of several other reports. Drexel Hamilton raised Telephone and Data Systems from a hold rating to a buy rating in a report on Thursday, November 9th. BidaskClub raised Telephone and Data Systems from a sell rating to a hold rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $29.00.

Shares of Telephone and Data Systems (TDS) opened at $26.09 on Wednesday. The company has a quick ratio of 2.29, a current ratio of 2.42 and a debt-to-equity ratio of 0.54. Telephone and Data Systems has a 1-year low of $24.57 and a 1-year high of $32.97. The company has a market capitalization of $2,960.00, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 5.34 and a beta of 1.02.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09). Telephone and Data Systems had a positive return on equity of 1.08% and a negative net margin of 2.77%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $0.11 earnings per share. The company’s revenue was down 4.8% compared to the same quarter last year. sell-side analysts anticipate that Telephone and Data Systems will post -1.35 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in TDS. Thrivent Financial For Lutherans lifted its holdings in shares of Telephone and Data Systems by 11.8% during the first quarter. Thrivent Financial For Lutherans now owns 17,785 shares of the Wireless communications provider’s stock valued at $471,000 after purchasing an additional 1,880 shares in the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Telephone and Data Systems by 5.4% during the second quarter. Capstone Asset Management Co. now owns 17,906 shares of the Wireless communications provider’s stock valued at $497,000 after purchasing an additional 910 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Telephone and Data Systems by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 34,597 shares of the Wireless communications provider’s stock valued at $960,000 after purchasing an additional 1,492 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Telephone and Data Systems by 20.0% during the second quarter. LS Investment Advisors LLC now owns 7,451 shares of the Wireless communications provider’s stock valued at $207,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Telephone and Data Systems by 3.4% during the second quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the Wireless communications provider’s stock valued at $680,000 after purchasing an additional 800 shares in the last quarter. 82.27% of the stock is currently owned by hedge funds and other institutional investors.

About Telephone and Data Systems

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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