AT&T Inc. (NYSE:T) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $43.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.69% from the company’s current price.
According to Zacks, “AT&T is planning to spread its 5G technology trials to three new cities – Waco, Kalamazoo, South Bend by 2017 end. Deployment of G. fast based services complements its high-speed broadband services. AT&T’s NetBond is gearing up to offer multiple cloud-to-cloud connections. The company is targeting customers by offering a combo of wireless and video services. Meanwhile, AT&T is reportedly exploring a strategic option to sell a major part of its Latin American pay-TV operations. AT&T has unveiled its own Android tablet, Primetime. The AT&T-Time Warner pending deal awaits nod from Brazil and United States. However, AT&T operates in a competitive and saturated wireless U.S. market. Losses in access lines, operating expenses, marketing costs associated with attractive discounts, regulatory norms and union issues are other major risks. Over the past three months, the stock grew 4.5% as against the industry's 5.3% gain.”
A number of other equities research analysts have also weighed in on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $42.00 price objective on shares of AT&T in a report on Sunday, July 9th. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $41.56 price objective on the stock in a report on Monday, July 10th. BidaskClub raised AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of AT&T in a report on Wednesday, June 28th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $43.00 price target on shares of AT&T in a research report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus target price of $43.84.
AT&T (T) traded down 0.610% during trading on Wednesday, reaching $38.265. The company had a trading volume of 13,426,099 shares. The stock has a market capitalization of $70.60 billion, a price-to-earnings ratio of 18.050 and a beta of 0.49. AT&T has a 1-year low of $35.10 and a 1-year high of $43.03. The firm has a 50-day moving average of $37.87 and a 200-day moving average of $38.46.
AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The company had revenue of $39.84 billion for the quarter, compared to analyst estimates of $39.84 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts anticipate that AT&T will post $2.94 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Holderness Investments Co. boosted its position in AT&T by 62.9% during the 1st quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock worth $4,008,000 after purchasing an additional 37,234 shares during the period. Doyle Wealth Management boosted its position in AT&T by 4.3% during the 2nd quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock worth $1,417,000 after purchasing an additional 1,559 shares during the period. Altfest L J & Co. Inc. boosted its position in AT&T by 42.1% during the 2nd quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock worth $1,721,000 after purchasing an additional 13,510 shares during the period. Shell Asset Management Co. boosted its position in AT&T by 0.4% during the 1st quarter. Shell Asset Management Co. now owns 1,245,965 shares of the technology company’s stock worth $51,770,000 after purchasing an additional 5,354 shares during the period. Finally, Private Capital Management Inc. boosted its position in AT&T by 29.0% during the 2nd quarter. Private Capital Management Inc. now owns 11,350 shares of the technology company’s stock worth $428,000 after purchasing an additional 2,550 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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