Fintel reports that on August 8, 2023, JP Morgan upgraded their outlook for Telephone And Data Systems (NYSE:TDS) from Neutral to Overweight .
Analyst Price Forecast Suggests 11.14% Downside
As of August 1, 2023, the average one-year price target for Telephone And Data Systems is 11.73. The forecasts range from a low of 8.08 to a high of $15.75. The average price target represents a decrease of 11.14% from its latest reported closing price of 13.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Telephone And Data Systems is 5,555MM, an increase of 4.44%. The projected annual non-GAAP EPS is -0.19.
What is the Fund Sentiment?
There are 532 funds or institutions reporting positions in Telephone And Data Systems. This is a decrease of 18 owner(s) or 3.27% in the last quarter. Average portfolio weight of all funds dedicated to TDS is 0.10%, a decrease of 22.97%. Total shares owned by institutions decreased in the last three months by 11.62% to 105,000K shares. 
The put/call ratio of TDS is 1.93, indicating a bearish outlook.
What are Other Shareholders Doing?
SDY - SPDR(R) S&P(R) Dividend ETF holds 10,511K shares representing 9.32% ownership of the company. In it's prior filing, the firm reported owning 13,703K shares, representing a decrease of 30.36%. The firm decreased its portfolio allocation in TDS by 50.36% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 7,258K shares representing 6.44% ownership of the company. In it's prior filing, the firm reported owning 7,397K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in TDS by 4.47% over the last quarter.
Invesco holds 5,282K shares representing 4.68% ownership of the company. In it's prior filing, the firm reported owning 7,049K shares, representing a decrease of 33.44%. The firm decreased its portfolio allocation in TDS by 28.49% over the last quarter.
Private Management Group holds 3,989K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 3,337K shares, representing an increase of 16.36%. The firm decreased its portfolio allocation in TDS by 11.78% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,062K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 3,065K shares, representing a decrease of 0.12%. The firm decreased its portfolio allocation in TDS by 7.60% over the last quarter.
Telephone And Data Systems Background Information
(This description is provided by the company.)
Telephone and Data Systems, Inc. (TDS), a Fortune 1000® company, provides wireless; cable and wireline broadband, video and voice; and hosted and managed services to approximately 6 million connections nationwide through its businesses, UScellular, TDS Telecom, BendBroadband and OneNeck IT Solutions. Founded in 1969 and headquartered in Chicago, TDS employed 9,300 people as of September 30, 2020.
Additional reading:
- TDS reports second quarter 2023 results
- Telephone and Data Systems and UScellular Announce Exploration of Strategic Alternatives for UScellular
- Form of TDS 2022 Long-Term Incentive Plan 2023 Performance Share Award Agreement.
- Form of TDS 2022 Long-Term Incentive Plan 2023 Restricted Stock Unit Award Agreement.
- TDS reports first quarter 2023 results 2023 guidance reaffirmed
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
