AT&T (NYSE:T) Stock Rating Reaffirmed by Royal Bank of Canada

AT&T (NYSE:TGet Free Report)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $18.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential downside of 2.91% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday, April 29th. Scotiabank upped their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Finally, UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.81.

Get Our Latest Stock Report on AT&T

AT&T Trading Down 1.4 %

Shares of NYSE:T traded down $0.26 during trading on Wednesday, reaching $18.54. 652,332 shares of the stock were exchanged, compared to its average volume of 36,226,980. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T has a 12-month low of $13.43 and a 12-month high of $19.32. The firm has a market cap of $132.93 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. The firm’s 50-day moving average price is $17.87 and its 200 day moving average price is $17.29.

AT&T (NYSE:TGet Free Report) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T will post 2.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC lifted its holdings in shares of AT&T by 2,801.1% in the third quarter. EP Wealth Advisors LLC now owns 156,165 shares of the technology company’s stock valued at $2,346,000 after buying an additional 150,782 shares during the period. Banque Pictet & Cie SA lifted its holdings in shares of AT&T by 386.1% in the third quarter. Banque Pictet & Cie SA now owns 60,768 shares of the technology company’s stock valued at $913,000 after buying an additional 48,268 shares during the period. Wellington Management Group LLP lifted its holdings in shares of AT&T by 22.2% in the third quarter. Wellington Management Group LLP now owns 1,979,779 shares of the technology company’s stock valued at $29,736,000 after buying an additional 359,198 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of AT&T by 4.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 409,674 shares of the technology company’s stock valued at $6,153,000 after buying an additional 16,784 shares during the period. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of AT&T by 45.1% in the third quarter. VisionPoint Advisory Group LLC now owns 6,837 shares of the technology company’s stock valued at $103,000 after buying an additional 2,126 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

(Get Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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