Royal Bank of Canada Cuts AT&T (NYSE:T) Price Target to $20.00

AT&T (NYSE:TGet Rating) had its target price dropped by Royal Bank of Canada from $30.00 to $20.00 in a research report issued to clients and investors on Monday, The Fly reports. Royal Bank of Canada’s price objective suggests a potential upside of 2.46% from the stock’s previous close.

T has been the topic of several other reports. Raymond James decreased their target price on shares of AT&T from $32.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, April 12th. StockNews.com started coverage on AT&T in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup cut their target price on AT&T from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. Tigress Financial upped their price target on AT&T from $36.00 to $41.00 in a research note on Thursday, January 20th. Finally, Cowen cut their price objective on AT&T from $33.00 to $29.00 and set a “market perform” rating for the company in a research report on Thursday, January 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.86.

NYSE:T opened at $19.52 on Monday. AT&T has a one year low of $16.62 and a one year high of $25.57. The stock has a market cap of $139.43 billion, a PE ratio of 8.24, a P/E/G ratio of 2.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a 50 day moving average price of $22.80 and a 200 day moving average price of $24.15.

AT&T (NYSE:TGet Rating) last issued its earnings results on Thursday, April 21st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.16. The business had revenue of $38.10 billion during the quarter, compared to the consensus estimate of $38.29 billion. AT&T had a return on equity of 13.19% and a net margin of 10.64%. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. As a group, analysts predict that AT&T will post 2.51 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OLD Mission Capital LLC purchased a new position in shares of AT&T in the 3rd quarter valued at $453,000. Camden National Bank purchased a new position in shares of AT&T during the fourth quarter worth about $278,000. Segall Bryant & Hamill LLC increased its position in shares of AT&T by 6.8% during the third quarter. Segall Bryant & Hamill LLC now owns 136,701 shares of the technology company’s stock worth $3,692,000 after purchasing an additional 8,701 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of AT&T by 7.1% in the 3rd quarter. Brookstone Capital Management now owns 363,334 shares of the technology company’s stock valued at $9,192,000 after purchasing an additional 24,237 shares during the last quarter. Finally, Wade G W & Inc. lifted its holdings in shares of AT&T by 1.3% in the 3rd quarter. Wade G W & Inc. now owns 495,564 shares of the technology company’s stock valued at $13,385,000 after purchasing an additional 6,150 shares during the last quarter. Institutional investors own 51.63% of the company’s stock.

About AT&T (Get Rating)

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

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