New Street Research Upgrades AT&T (NYSE:T) to “Buy”

AT&T (NYSE:T) was upgraded by research analysts at New Street Research from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat.com reports.

Several other brokerages also recently commented on T. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer raised their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $24.07.

AT&T Stock Down 0.8 %

Shares of T opened at $23.55 on Tuesday. AT&T has a 52 week low of $15.94 and a 52 week high of $24.03. The firm has a market cap of $168.94 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. The firm’s 50-day simple moving average is $22.28 and its 200 day simple moving average is $20.28. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was down .5% compared to the same quarter last year. On average, analysts forecast that AT&T will post 2.22 earnings per share for the current year.

Institutional Trading of AT&T

Hedge funds have recently added to or reduced their stakes in the stock. Inspire Trust Co. N.A. raised its position in shares of AT&T by 19.7% in the third quarter. Inspire Trust Co. N.A. now owns 140,000 shares of the technology company’s stock valued at $3,080,000 after purchasing an additional 23,000 shares during the period. Franklin Resources Inc. grew its stake in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Tidal Investments LLC grew its stake in AT&T by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company’s stock worth $14,096,000 after buying an additional 10,954 shares in the last quarter. Destination Wealth Management purchased a new position in AT&T in the 3rd quarter worth approximately $240,000. Finally, Wilmington Savings Fund Society FSB grew its stake in AT&T by 386.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company’s stock worth $5,864,000 after buying an additional 211,723 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.