AT&T Inc. (NYSE:T) – Stock analysts at SunTrust Banks cut their FY2018 earnings estimates for AT&T in a research note issued to investors on Wednesday, October 24th. SunTrust Banks analyst G. Miller now anticipates that the technology company will post earnings of $3.49 per share for the year, down from their prior estimate of $3.55. SunTrust Banks also issued estimates for AT&T’s Q1 2019 earnings at $0.87 EPS, Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.86 EPS and FY2019 earnings at $3.67 EPS.
Several other research firms also recently weighed in on T. Bank of America set a $37.00 price target on shares of AT&T and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, July 24th. Raymond James downgraded shares of AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 price target for the company. in a research report on Friday, July 13th. Finally, Macquarie reiterated a “buy” rating and issued a $35.00 price objective on shares of AT&T in a report on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. AT&T has a consensus rating of “Hold” and a consensus price target of $37.95.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The company had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. During the same quarter last year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of T. Bank of New York Mellon Corp grew its stake in shares of AT&T by 21.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock valued at $2,335,182,000 after buying an additional 12,709,982 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AT&T by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock valued at $2,650,940,000 after buying an additional 11,990,755 shares during the period. BlackRock Inc. grew its stake in shares of AT&T by 2.8% in the 1st quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock valued at $13,809,130,000 after buying an additional 10,535,763 shares during the period. Northern Trust Corp grew its stake in shares of AT&T by 13.7% in the 2nd quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock valued at $2,695,135,000 after buying an additional 10,082,798 shares during the period. Finally, Charles Schwab Investment Advisory Inc. purchased a new stake in shares of AT&T in the 2nd quarter valued at approximately $321,448,000. 64.77% of the stock is owned by institutional investors and hedge funds.
In other news, Director Michael B. Mccallister purchased 4,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was acquired at an average price of $29.14 per share, with a total value of $116,560.00. Following the purchase, the director now directly owns 7,361 shares in the company, valued at approximately $214,499.54. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was purchased at an average cost of $32.48 per share, with a total value of $249,771.20. Following the purchase, the director now owns 31,405 shares in the company, valued at $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 6.56%. AT&T’s payout ratio is 65.57%.
AT&T Company Profile
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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