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Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Group 1: Company Overview - Telephone & Data Systems (TDS) currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - TDS has experienced a share price increase of 2.58% over the past week, matching the performance of the Zacks Wireline - National industry [4] - Over the last month, TDS shares have risen by 7.27%, again aligning with the industry's performance [4] Group 2: Trading Volume and Market Position - The average 20-day trading volume for TDS is 1,107,698 shares, which serves as a bullish indicator when combined with rising stock prices [5] - TDS has a Zacks Rank of 1 (Strong Buy), suggesting it is positioned to outperform the market [8] Group 3: Performance Metrics - Over the past quarter, TDS shares have increased by 37.22%, and over the last year, they have surged by 176.05%, significantly outperforming the S&P 500, which rose by 10% and 27.2% respectively [10] - Recent earnings estimate revisions for TDS show one upward revision for the full year, raising the consensus estimate from -$0.48 to -$0.33 [13]

Core Viewpoint - The preferred stock of Telephone and Data Systems has seen a significant decrease in yield from 13.0% to 8.3%, but the safety of the preferred dividend has improved due to a strategic asset sale, despite ongoing challenges related to debt and company size post-transaction [2][4]. Group 1: Transaction and Financial Impact - Telephone and Data Systems has approved the sale of US Cellular's wireless operations and approximately 30% of its spectrum assets to T-Mobile for $4.4 billion, which includes cash and debt [8]. - The deal is expected to close in mid-2025, but significant hurdles remain, including potential antitrust scrutiny from U.S. regulators [1]. - The company will become much smaller after the sale, raising concerns about its ability to maintain preferred dividends in the long run [2][1]. Group 2: Dividend and Yield Analysis - The preferred dividend yield has decreased from 13.0% to 8.3%, but the recent asset sale has made the preferred dividend much safer in the short term [2][4]. - The company pays $70 million annually on preferred dividends, with total preferred equity of $1.07 billion, indicating that preferred equity comprises 21% of total equity [8]. - The reduction of the common dividend by 79% is expected to save about $66 million per year, aiding in covering preferred dividends [8]. Group 3: Interest Rate Environment - High interest rates have pressured preferred stocks, but inflation has decreased from a 40-year high of 9.1% to 3.0%, leading to expectations of interest rate cuts by the Federal Reserve [5]. - The Fed's guidance suggests a potential reduction of interest rates from 5.25%-5.5% to 2.75%-3.0% after 2026, which could benefit the preferred stock [5]. Group 4: Debt and Financial Struggles - Telephone and Data Systems has faced challenges in servicing its debt, with net interest expenses rising 48% from $157 million in 2022 to $228 million, exceeding operating income of $191 million [9]. - The company carries a net debt of $6.5 billion, nearly triple the market capitalization of its common stock, indicating a high debt burden [9]. - The recent financial struggles have led to a significant reduction in the common dividend after 49 consecutive years of growth [7].

TDS Mobile will be covered by a national 5G mobile network as the company enters the Mobile Virtual Network Operator (MVNO) market through the established National Content & Technology Cooperative (NCTC) partnerships. "TDS Telecom's decision to enter the mobile market aligns perfectly with our mission to simplify and accelerate network-based service launches. We are thrilled to partner with TDS Telecom and support their commitment to delivering exceptional value and high-quality service to their customers t ...

Telephone and Data Systems, Inc. (TDS) has inked a definitive agreement to sell its subsidiaries, OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC, to US Signal Company, LLC. The transaction, expected to close in the third quarter of 2024 pending customary closing conditions and mandatory regulatory approvals, marks a strategic shift for TDS as it reallocates resources to enhance its fiber program. As a wholly owned subsidiary of TDS, OneNeck specializes in delivering multi-cloud solutions and ...

MADISON, Wis., June 4, 2024 /PRNewswire/ -- TDS Telecom has entered into a stock purchase agreement with RiverStreet Management Services, LLC ("RiverStreet"), a subsidiary of Wilkes Telephone Membership Corporation ("Wilkes") to transfer ownership of two Incumbent Local Exchange Companies (ILECs) in Virginia: Amelia Telephone Corporation ("Amelia") and New Castle Telephone Company ("New Castle"). The agreement was signed Friday, May 31 and is expected to close within the third quarter of 2024, subject to cu ...

CHICAGO, June 3, 2024 /PRNewswire/ -- Telephone and Data Systems, Inc. (NYSE: TDS), today announced the entry into a definitive agreement to sell its wholly owned subsidiaries OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC (together, "OneNeck") to US Signal Company, LLC. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the third quarter of 2024. No terms were disclosed. US Signal is acquiring all of the OneNeck operations, including it ...

Core Viewpoint - TDS has reached a definitive agreement to sell UScellular's wireless operations and approximately 30% of its spectrum assets to T-Mobile for $4.4 billion, which includes cash and assumed debt, aiming to enhance service and shareholder value while positioning UScellular for future growth [1][2]. Transaction Details - The sale includes UScellular's wireless operations and select spectrum assets for a total of $4.4 billion, with T-Mobile expected to become a long-term tenant on at least 2,015 additional towers owned by UScellular [2][4]. - UScellular retains approximately 70% of its total spectrum assets, which provides opportunities for future monetization [2]. - The transaction is anticipated to close in mid-2025, pending regulatory approvals and customary closing conditions [4]. Financial Implications - TDS will receive proceeds from the sale in proportion to its ownership of UScellular, which may be used for fiber expansion, reducing leverage, and potentially returning capital to shareholders [3]. - TDS has declared dividends for the second quarter of 2024 at approximately 20% of the previous level for its Common Shares and Series A shares, allowing for additional capital allocation towards growth initiatives [8]. Strategic Focus - TDS remains committed to expanding its fiber footprint and improving profitability, particularly in small and mid-sized suburban and rural communities across the United States [4]. - The transaction is seen as a strategic move to integrate UScellular's operations with T-Mobile to achieve necessary scale and investment for continued customer service delivery [2].

Telephone and Data Systems, Inc. (NYSE:TDS) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Colleen Thompson - Vice President, Corporate Relations Vicki Villacrez - Executive Vice President & Chief Financial Officer LT Therivel - President & Chief Executive Officer, UScellular Doug Chambers - Executive Vice President, Chief Financial Officer & Treasurer Michelle Brukwicki - Senior Vice President of Finance & Chief Financial Officer, TDS Telecom Conference Call Participants Ric ...

Safe Harbor Statement Under the Private Securities Litigation Corporate Update • Improved profitability 3 • Fixed wireless connections grew 42% • Continued mid-band deployment Gross Additions (in thousands) 87 96 106 114 124 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 Churn 1.06% 1.01% 1.11% 1.22% 1.03% 1.27%1.21% 1.30% 1.44% 1.22% Handsets Total Postpaid Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Net Additions (in thousands) scellula *uscellular. All information set forth in this presentation about Telephone and Data Systems, Inc., ...