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 equities research analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $18.00 price objective on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential downside of 2.91% from the stock’s previous close.

T has been the subject of a number of other reports. Oppenheimer reissued an “outperform” rating and set a $21.00 target price on shares of AT&T in a research report on Tuesday, June 25th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Scotiabank raised their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.81.

Read Our Latest Report on T

AT&T Stock Performance

Shares of AT&T stock traded down $0.26 on Wednesday, reaching $18.54. 652,332 shares of the company traded hands, compared to its average volume of 36,226,980. AT&T has a 52 week low of $13.43 and a 52 week high of $19.32. The company has a 50 day moving average of $17.87 and a 200 day moving average of $17.29. The firm has a market capitalization of $132.93 billion, a PE ratio of 9.97, a PEG ratio of 3.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:TGet Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the prior year, the firm earned $0.60 EPS. The company’s revenue was down .4% compared to the same quarter last year. Equities analysts forecast that AT&T will post 2.23 earnings per share for the current year.

Hedge Funds Weigh In On AT&T

A number of large investors have recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in AT&T in the 4th quarter worth $11,554,000. Provence Wealth Management Group boosted its stake in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Retireful LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $1,163,000. Finally, Brighton Jones LLC boosted its stake in shares of AT&T by 12.6% during the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after purchasing an additional 5,161 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

(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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