In a report issued on February 19, Philip Cusick from J.P. Morgan downgraded Telephone & Data Systems (TDS) to Hold, with a price target of $22.00. The company’s shares closed last Friday at $19.53.
According to TipRanks.com, Cusick is a 4-star analyst with an average return of 9.6% and a 63.6% success rate. Cusick covers the Technology sector, focusing on stocks such as United States Cellular, T Mobile US, and Anterix.
Currently, the analyst consensus on Telephone & Data Systems is a Moderate Buy with an average price target of $30.25.
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Based on Telephone & Data Systems’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.32 billion and net profit of $78 million. In comparison, last year the company earned revenue of $1.32 billion and had a net profit of $18 million.
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Telephone & Data Systems, Inc. engages in the provision of wire line and cable broadband, video and voice services. It operates through the following segments: U.S. Cellular, Telephone and Data Systems (TDS) Telecom’s Wireline and Cable. The U.S. Cellular segment provides service to postpaid and prepaid customers from a variety of demographic segments. The TDS Telecom’s Wireline segment operates Wireline and Cable subsidiaries that provide communications services. The Cable segment provides interconnected voice over internet protocol and broadband services, including internet access. The company was founded by LeRoy T. Carlson in 1968 and is headquartered in Chicago, IL.
